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Updated over 16 years ago,
having problems finding a mortgage
Is there anyway to get a NOO mortgage with stated income for a property valued under $40,000?
I recently purchased a tri-plex for cash for $28,000 and wanted to get a mortgage on it. My parents offered to cosign this loan for me (can varify their income and both have 800+ ficos) but I'm also interested in purchasing additional property myself without any cosigners
Is it possible for me to get a mortage under these conditions? Do people in similar situations get long term hard money loans?
It's getting pretty frustrating considering I've found cashflowing properties and even have the money to buy them but don't have the ability to even leverage my money a little.
Any help would be greatly appreciated.
-Jason