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Updated over 8 years ago on . Most recent reply
Debt ratio too high for loan due to other properties...
I am in the pre-qualifying phase with a lender. She is concerned that my debt ratio is too high. I own a single family home and two duplexes with a partner in an LLC. Our accountant showed a $200.00 loss for the duplexes this past year.
How are other people getting financing on a rental property when they already own several others? Do I need to take a tax hit and show income from the rentals in order to have a proper debt/income ratio?
I would love to hear how others are making it work.
Many thanks,
George
Most Popular Reply

- Loan Officer / Processor / Life & Health Agent
- Rancho Cucamonga, CA
- 757
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A $200-dollar loss isn't that much at all so I would suspect that you have more income that can be uncovered.
Don't give up as you might be able to qualify. Use a broker or Loan Officer that has a lot of experience with Investment loans and that will increase your chances of getting something done and funded in the near future.
I hope this helps and have a great day.