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Updated over 7 years ago on . Most recent reply
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Financing my second property
how to finance my second home?
I live in nh, i have a score above 700 with 100% on time payment and 11 years old credit. As you can see I have been very responsible.
I dont have the 20-25 % for down payment. And my debt to income ratio is above 45. I make $66,000 as a software engineer, I graduated 4 years ago. I own a two faminly which I got 3 months ago. It pays itself.
I want to get another house but the bank says I don't qualify because of the debt to income ratio.
How can I find a lender?
Please I ask me if you have any questions.
Will
Most Popular Reply
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Look for potential owner finance deals.There are plenty of creative financing options to close on a good deal, less options to close on a so-so deal, look for deals and financing simultaneously. Hope that helps.