How can I refi rental property with high LTV and high DTI? Help!

Not enough data. How high is the LTV? What is your current rate? What does your credit look like? You indicate a DTI of 58%, but not sure how you got that number. You can use rental income but only if it shows up on your taxes. Did you include the Rent? How about rental expenses and depreciation? Is the loan HARP eligible? Find a local Licensed Mortgage Professional. With all of the facts, it can be easy to determine if a program exists for you. ~ Bert Carpenter, CMC, CRMS ~ The LoansA2z team of NOVA Home Loans ~ Licensed in California and Arizona ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

What is your DTI? And how did you come up with the numbers for the rental income? Most lenders are going to use the Fannie Mae calculations. Im Orange County, if you need some assistance, please give me a call or email. Thanks

Are you just using the rental amount that you receive from the tenant? Using Sch. E, you would add back in depreciation which may help, and using the new mortgage payment, may help lower the DTI. What is the status with other debts? Car loans, credit cards ect...? Installments can be exluded if less then 10 mos remaining, and co signed loans can be excluded as well. Insurance can be adjusted and give the lowest rate possible. Plus if you are underwater or close, HARP loans allow a higher DTI, highest I saw was 55%

Harp only helps owner occupied properties. If it is rental I am not sure how it can be done if it is over 80% LTV because you will have MI & that might wipe out the savings of a lower rate.

Hello...I am Mrs Julie from Florida Us,I saw your question regarding a loan and i will advise you to be very careful because last month i was so much in need of a loan and got scam over $2000 by fake lenders,i was introduce to this legit lender by name Alhaji Dantata Finance Loan Company and their ways was so easy..No collateral,No credit check,No co-signer and they offer loan @ 3% interest rate.You can contact them via this E-mail: alhajidantatacompany@gmail.com

By the way, Sandy. HARP can do Second homes and Rental properties. True, not all investors will, but we can.~ Bert Carpenter, CMC, CRMS ~ The LoansA2z team of NOVA Home Loans ~ Licensed in California and Arizona ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950