What are my options given high DTI?

More info would be needed to see what alternative options would be available. If you want to discuss feel free to contact me. 562.254.5616 or www.mortgagelenderandbroker.com and hit apply now.

1) refinance the car loan to a lower payment if possible ...2) get pre approved for a lower amount 3) get a personal loan to payoff the car if the payment is lower 4) pay the car loan down to 12 months remaining as lenders will exclude the car loan payment once there are 10 months remaining

High debt to income ratio is a common problem. I see this a lot with younger first time home buyers. For example, it is easy to afford high car payments when living for free at your parents home or in a cheap apartment, but that same car payment can become a quick loan denial when buying a home. Your three common car options here are to sell the car and get something cheaper, try refinancing the car to lower the payments, or paying down the car to owing less that 1-year, in which case the lender will usually disregard the payment altogether, as so little is left to pay. Another option would be to look to add a co-signor, like Mom or Dad. Good luck. I lend in FL, MN, WI, IA, ND, and SD. Find me at Joemetzler.com/apply | Cambria Mortgage, NMLS 274132