1st duplex for 7 years & now looking to invest. High DTI :(
Hello,
I have had my first duplex (I live in one apartment, and rent the second one) for over 7 years now. I have enough funds to put as a down payment on another duplex in the same city (North NJ). But the issue is my income to debt ratio is too high. Currently at 60%! and with this new property it'll be impossible to get a conventional loan. What're my options?
This new property will be used strictly as an investment property as a rental.