Get in the game or wait for $?

[Tom B.]

Hey everybody,

This is my first  post and I am excited to learn from all of you.

After all my research I'm quite confident that I would eventually like to get into the buy-and-hold or lease swap strategy.  

I have a stable job, mortgage on my house (not a lot of equity yet), work full time and a credit score of 780.  The problem is I only have 12-15k in the bank and my income is stretched thin with mortgage, car payment, and what's left is put into my 403b.  I have no CC debt or other investments.  

That being said, everything I read and hear advise me to "get in the game any way you can with that first buy!",  but is it possible, (or practical) to get a loan if I can't cover 25%?  Should I pursue a loan without a 20-50k cushion?  

So far I have talked to two lenders who said I'm not ready yet and encouraged me to wait until I can cover a 25% down payment.   Of course that looks like the safe bet but  I might be on the sideline for a long tie as I'm not sure where I can find that extra income.   

Really appreciate any advice you could give!