Need Advice on Loan Denial and Real Estate Investment

[Gabriella Nataldie]

Hi Everyone,

I hope you’re well. I need some advice on my real estate investment plans. My loan application was denied because my salary from my full-time job is too low. I took on a part-time job to help, but the lender won’t consider that income. 

I have $15,000 saved and a relative willing to lend me $2,000. I’m interested in house hacking as a potential solution.

Should I:

1. Keep saving and wait?
2. Look into DSCR (Debt Service Coverage Ratio) loans that might have more flexible income requirements?
3. Explore other financing options or creative solutions?

I’m determined to make this work and would appreciate any advice.

Thanks for your help!