Private Money Tips &Tricks

[Tisha Smith]

Hi Everyone,

I've purchased my first home and I have about 50k in student loan. I currently have a full time job and my debt to income is too high to get another mortgage. Any advise on how I should go about presenting a good deal to a private money lender?

[Dan Gamache]

@Tisha Smith Private Lenders don't factor DTI into underwriting, rather based on cash flow of rental property. Generally you need at least 10% downpayment of Total Costs (purchase price + rehab budget).