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Updated about 5 years ago on . Most recent reply

Account Closed
  • New York, NY
47
Votes |
34
Posts

I have 10k to invest, Cant get a mortgage! What would you do?

Account Closed
  • New York, NY
Posted

Hello Everyone

For the past few months I have been unable to get a traditional mortgage with a bank for various reasons, I am honestly tired of it holding me back! I have decided to look for a property using seller financing. Still, I wanted to ask the Biggerpockets community what you all would do in such a situation if you were in my shoes?

Most Popular Reply

User Stats

54
Posts
35
Votes
Dave Madoch
  • Chicago, IL
35
Votes |
54
Posts
Dave Madoch
  • Chicago, IL
Replied

Have you tried to get an FHA mortgage? Typically they have lower requirements and only require a 3.5% down payment. My wife and I did exactly that for our first property and 9 years later sold it and bought a 6 unit multi-family.

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