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Consolidation Loans

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gdale6
Moderator Emeritus

Re: Consolidation Loans

OP, I have removed your duplicate post in the relationships forum. Please do not cross post the same subject matter it leads to confusion. I thank you for your understanding.

Message 11 of 14
babbles
Established Contributor

Re: Consolidation Loans

My apologies!
Message 12 of 14
Revelate
Moderator Emeritus

Re: Consolidation Loans

If it were me I'd go the Lending Club route and see what they could do for me.  Yeah, with a bunch of investment properties I can see having a high DTI ratio if you're only making some not-gigantic percentage over the costs involved.  

 

Doesn't hurt you to ask, give it a shot.  FWIW I cherry pick CC consolidation loans almost exclusively as an investor there, and I suspect a lot of others do too, so you can probably get it done if you pass the initial sniff test.




        
Message 13 of 14
babbles
Established Contributor

Re: Consolidation Loans

My debt to income ratio now stands at 75% with excellent credit.  If I did a consolidation, it would only reduce to 63%.  In an consolidation, what does the lender want to see that number reduced too, below 40% or so??  I don't want to attempt it now if it dosen't make sense.  The rental homes are definitely weighing me down.  Thank you.

Message 14 of 14
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