Struggling with NO Stated Financing

First time to a forum so if it is not right you can laugh;;; i have ran into hard struggles when it comes to financing i used to be able to do stated stated and had no problems and now all of the verification is killing me- here is my situation i have a tenant that is willing to pay $1200 a month for rent and i am finding houses that will cost me $700 but the financing world will not loan on future rental only 6 month history of rental payments and i still have to verify income and my DTI is too high right now… how do I get around this any suggestion or ideas are highly appreciated…

I don’t think you’re going to find funding from lenders with a stated income only. Especially since it was lending practices like those that contributed to financial collapse. The fact that you have a high DTI is a sign that you should looking to decrease that ratio… not increase it. If you’re intent on going down this path, you might try to see if you can get private investors involved. But I suggest you get your balance sheet in order first.


There are still some stated income programs out there, but you need to have a large down payment to qualify. If you have 20% to put down, and good credit it is possible to get financing even with a high DTI. You need to sit down with a mortgage professional and have them review your situation. You may be able to qualify full doc.