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Updated about 2 years ago,

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4
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1
Votes
Caleb Masuaku
1
Votes |
4
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Can we qualify for a loan ?

Caleb Masuaku
Posted

little scenario. 

I live out of state and would like to buy a duplex in Milwaukee, but I don't have the 20% down payment (I have 10% for my price point).

I found a potential partner that lives in Milwaukee, and wants to invest, but doesn't have money.

I suggested we buy the property together, I come up with the down payment(3.5 to 5%), and she lives in one unit and gets a renter to rent the other unit. 

Is it possible to qualify for the loan together to buy the property as a primary residence even though only one of us will be living in it?

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