Updated almost 9 years ago on . Most recent reply
Bank Loan preferrences
Good Evening All,
I am considering buying a rental property. At this point, I know that a bank looks for a low Debt to income ratio and cash reserves on hand for about 1 year.
Which of the following scenarios would the banks like the most
1) Coming in with a 30-32% DTI and adding an investment property loan for and additional 10% making it a 42% DTI
or
2) Having a recent loan ( within 2 months) and Keeping the DTI at 32% ?