Can using a quit-claim deed to an LLC reduce your Debt-to-Income

[Julian Mills]

I purchased a home, little over a year ago with a conventional 97 loan. I am looking to purchase another property with an FHA loan, but the loan officer says my debt to income ratio is too high. So I was wondering if I quit claim deed the property over to an LLC, will I be able to reduce my debt-to-income ratio and purchase another home via a FHA Loan?

[Christopher Phillips]

@Julian Mills

No. The mortgage would still be in your name. Quit claiming just changes the ownership on the title, not who owes the debt on the mortgage.