Mortgage Help

[Aaron Millis]

Hi everyone,

So I am wanting to buy a condo that i will be shown on monday. Unless there is something crazy going on inside i have done the research and am pretty positive i will want this to be my first REI purchase. IT is listed for 123,000 but has been on the market for about 10 months so I'm assuming i can get it for less. I have just enough money in my savings for a 20% down payment (I've heard everywhere that 20% is the magic number)Currently there are tenants living in the property until Aug 2017. I am not completely opposed to becoming their landlord, but in a perfect world i will be able to convince them or give them incentive to leave and break their lease so that i could make the property my primary residence. But assuming they don't want to do that i think i will have an issue. I have never purchased a property before and my credit score is in the 660's which i know is not spectacular, but i just started building credit recently. I was told by one loan officer that it is pretty much impossible for someone with my credit score to get a loan for investing purposes for a condo--- so this is where i need advice. I'm not sure what my options are here. The only other thing that has crossed my mind is to see if the seller would be interested in seller financing until Aug 2017 whenever i could move in and get a VA loan (I am in the Army) or just keep asking other lenders. Any help would be appreciated thanks.