Mortgage Brokers & Lenders
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 10 years ago on . Most recent reply
Do banks factor in trusts or LLC when running debt/income ratio
I have been applying for new loans to buy another property but my debt to income ratio is high because of my existing mortgage on a 4plex. If my 4plex was owned by a trust or LLC would I still have this problem since technically it would not be in my name? Can a trust have a mortgage on it? Is it legit to use a trust or LLC in this way? How do others make this situation work?
Most Popular Reply
Wayne Brooks
#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
- 13,509
- Votes |
- 23,418
- Posts
Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
If you have a personal guarantee on the loan, which you would, it wouldn't make any difference.