DTI ratio too high because I haven't had my rental properties for 2 years?
This summer I bought 2 rental properties cash, which are all rented and earning a good amount of income. I am now tapped out cash wise and would like to finance an additional rental property. A LO told me that because I could not show 2 years of rental income that rental income would not be counted, leaving my DTI ratio high because It looks like I am paying for the house from my annual salary (which i am not). Because my DTI ratio is high I do not qualify for alot of freddie mac and fannie mae type loans. Is there a way around this? If I transfer my current properties that are loan free into a LLC will this help? I am 27 still live with my parents have no current morgages, own 2 properties, 770 credit score and have been at my job for 8 years? I didn't think getting a loan would be so difficult. Does anyone have any suggestions? or do I just have the wrong loan officer? Is it easier/ smarter to just use the equity out of my rental properties?