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Updated over 4 years ago on . Most recent reply

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Danika Jeanton
  • Hollywood, FL
6
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13
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How to get started with high DTI

Danika Jeanton
  • Hollywood, FL
Posted

Hi everyone, I've been trying to figure out how it's possible to get financing for a first investment property when I already have my primary residence and it eats up my available DTI (I bought it before knowing anything about REI). Currently my DTI is about 36% which is fine however now if I want to try and get a second property for investment purposes, I think I wouldn't qualify because the second property would bring me way over the allowable DTI for most lenders. Any advice on this? How do others do it if they already have a primary residence when trying to start out?

Most Popular Reply

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196
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190
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Andrew Rosenberg
  • Honolulu, HI
190
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196
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Andrew Rosenberg
  • Honolulu, HI
Replied

@Danika Jeanton Don't waste a second with Big Banks. Suggest you network like crazy locally and find an investor-friendly community lender that will consider the income producing asset - especially if property purchased has an existing/documented paying tenant.

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