Updated about 7 years ago on . Most recent reply
1st investment property - LENDER QUESTION
I will be making my 1st investment and I will have to proceed with a co-borrower. However the other investor just completed an application to refinance their home last week! He has concerns about what it will do to his DTI ratio, and his credit, since the new home loan we will be requesting is at 90k. He may want to withdraw his request to refinance to be able to move forward with the investment, but will that also hinder my chances in the decision of the new investment. The type of loan we want to go with is a short term, interest only loan.