My first two loans are killing my DTI
I would really appreciate some advice; My wife and I are co-borrowers on two properties, our principal residence and my mom's home (neither of which provide rental income).
We now want to buy our first investment property and I would like to apply for a loan individually to maximize our loan possibilities. Only issue is our first two loans put my individual DTI over 50%. My wife and I make about the same so she would have the same issue if she were to apply individually. I'm hesitant to refi to put these loans on one of us individually because they're at a good fixed rate at 3.75%.
If we apply jointly for our rental properties that would cap us at 8 loans. I'm thinking that's our best option right now though.
Did I shoot myself in the foot with these two loans? (For the record, these were done before I was introduced to BP forum).