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Updated over 7 years ago,
Fastest Purchase Possible / Strategies
My wife and I are relocating to Waltham, MA from New Haven, CT and are blown away by the rental prices (not in a good way). Even with condos being as expensive as they are, the mortgages would still be far cheaper than any rents in the area.
BUT...there's a few things to consider.
1. We don't have the savings for a 20% downpayment.
2. I have already used an FHA loan to purchase the 2-unit multi-family that my wife and I currently occupy.
3. My wife has never used an FHA, but I'm not sure she'd be eligible for it if I'm on the mortgage, which I would have to be for her to get approval.
So, can anyone think of any alternatives that could allow us to purchase something potentially within the next 4-6 weeks?
I know this is a long shot, so please don't think I'm being purposefully unrealistic, but this is the place where these questions get answered.