+1 vote
asked in Mortgage by

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.

Thank you

1 Answer

0 votes
answered by (40.9k points)
Do you have non-occupant co-borrowers?