My name David, I lived in Redlands, CA.
I want purchase a home. But I'm stuck with Debt to Income Ratio. Not because I have debt. I don't have debt at all ( I already paid it all). But because My income regarding W2 2020 only $41,000, or around $3600/month.
I have 150K in my bank, but i only want to use for downpayment 3,5% because i want use the rest of the money to build ADU maybe about 2 or 3 bedroom so i can rent it to other people to make income. because rent average around here is for room rent about 800-900 per month.
And I stuck with DTI Ratio because my recent income, and because house price around my city is high. I need purchase price 450k-500k with 3,5%. and my credit score is 700.
So yeah thats the situation. I need advice or solution.