Financing is my only hurdle!

[David Noskiewicz]

I think I'm ready to make the first investment, in terms of knowledge, a precise plan to follow and stick to. I'm starting to get a little nervous about my financial situation. Savings: only around 5k, Debt: vehicle and credit card, Credit Score : High 600's Veteran: so possible VA Loan (have been told to go FHA / FHA 203k)

Before I committed to fixing my credit score 3 years ago (and it was disgusting) getting anything through a loan never worked. Disappointed every time. So maybe that's why I'm having "flashbacks"  from the past about how the loan app. will go.

My family and I have 4 months left on this lease, and Hopefully plan on finding a Multi-family and "house hack" in order to get our feet wet.  I have been remodeling kitchen and bath's for the last year and a half  since the military so I would love to find a place that needs some work, and definitely not worried about contractors or getting "got".

I feel like the ONLY thing I am gonna have trouble with is financing. Any ideas or insight will help me out greatly!!  

I love hearing no/low money down, but in all reality, unless I come up with 20% down, private lender, etc.  won't  I need better credit score, as well as some real money in savings? Or am I missing something. Should I just get pre-qualified for numerous types of loans without knowing exactly which property yet?  Is there a reason to keep analyzing property every day, when I don't even  know if I'll be able to finance it, or the rehab for that matter (obviously depending on property)

Any info would be appreciated

Best Regards!

[Rosston Smith]

Just stay on your current path. Save and study. Then I recommend going with a VA loan. Second choice is FHA. You'll be able to do fine.

Go ahead and get preapproved for a loan if you have any doubt's.