Overcoming debt to income problem
Hey guys, I just did a full remodel on house and we are at the refinance step of the BRRRR. We also just sold our primary residence and paid off all of our debt except our rentals. The bank suggested waiting on the refi until we purchased our next primary residence. The banker called back today and said due to the debt to income ratio we would only be approved for about half of the purchase price we were looking to buy, that's also not including the refi on the remodel. My wife and I have good W2 jobs and our rentals do well but obviously we show a loss on taxes. Has anyone else dealt with this and is there any way around it? I appreciate the help.