Personal Debt to income ratio affecting mortgage loan with llc?

3 Replies

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. 

Originally posted by @Kyle Foutch :

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.

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