Updated 1 day ago on . Most recent reply
Construction Loan with higher DTI
Hi! I am trying to squeak my foot in the door and want to start investing in property. I found some land in a great location and want to put a small house on it, do short-term rental and use the space with my kids from time to time. It has great potential. My debt to income with the potential new mortgage comes out at 60%. Does anyone have any thoughts on this.... I could try as an investment rather than second home, but will need more down, and I don't know any lenders that do construction loans for investment properties. Does anyone know of any lenders that will take a higher DTI? Thanks for your thoughts and suggestions in advance :)