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Updated over 6 years ago on . Most recent reply
BRRRR possible with high DTI ratio?
Ive been recently put in a situation we're I have to help my mom do a cash out refi on her duplex to buy out one of the other owners. I was planing to do the BRRR strategy and purchase my own multi family soon but due to this situation, had a few questions regarding refi.
Since I will technacally be on the loan for my moms property, would this make it difficult for me to do a BRRRR on my own property?
Essensially I will purchase my own property but would my DTI, since I'll be in my moms loan and my own at this point, prevent me from getting cash out during refi?
Any ideas of how to turn this situation into a better one?
Problems:
No longer qualify for fha after helping mom get loan.
DTI ratio