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Updated over 4 years ago,
Newbie laid off, How will this effect future funding?
Hello everyone, hope you’re doing well. I’m going insane with boredom.
I had just saved up enough for a down payment in my first rental and started seriously looking (long distance) when they shut down restaurants. I received unemployment for a while until my employer got the PPP money. I’ll be getting paid for 4 more weeks yet and since the restaurant (most of them here in AZ) isn’t opening until September I’ll have to go back on unemployment or find a temporary job (making considerably less money) until then.
Obviously, I can’t get financing any more even though I’m technically employed. When I am employed again and go to get financing how will this affect my ability to be approved? I’m hoping they’ll take COVID related unemployment into consideration but I’m worried about. I have a great credit score and reserves. What else should I be considering in order to get funding?
I appreciate your help, thank you.