I will be receiving a substantial amount of money into my bank account via a gift from the sale of a family business. Unfortunately, I didn't know that I had to show more money than I earned. I know that i'll have some serious DTI issues but would it be alleviated by the money that will be in my account following the sale. Any tips to increase my chances of obtaining a 1st time FHA multi unit loan would be greatly appreciated.
You probably need to lower your DTI by showing more income. Maybe a lender on here can help you! Good luck!!!!
@George Diakomihalis Your income and finances are what they are....nothing you can instantly do to change that. Just sit down with a lender, apply, and find out.