If my debt to income ratio is currently too high to be approved for a conventional mortgage loan, can I start an LLC and get approved for a mortgage loan through the llc? All provided I'm putting down 20-40% down of course.
@Kyle Foutch is your current lender allowing you to use rental income from the property that you are purchasing? If not, you may want to search for a different lender that will allow you to use proposed rent as qualifying income.
If my debt to income ratio is currently too high to be approved for a conventional mortgage loan, can I start an LLC and get approved for a mortgage loan through the llc? All provided I'm putting down 20-40% down of course.
That would be the way to do it. Most portfolio lenders base the loan off of your credit and the asset with a personal guarantee.