I have been attempting to refinance an income property purchased July, 2008, 30 year fixed, 6.5%. I recently started a new job, and the first year pay sucks, putting my DTI for most lenders into the NO zone. I am currently working with a couple of HARP lenders who seem to understand the mortgage triangle, that is equity, which is currently 60/40, DTI, and cash. I did provide two statements showing $70K in cash, or half of the $140K I am trying to refinance. I have another $70K in a couple of brokerage accounts, should I present this also?
I have no other debt, my home is paid off (wrote a 10 year in '93), a 795 Fico score, however all of the rentals are screwing up the numbers.