Alternatives to FHA investing, turned down for Duplex

[Greg Torian]

Hi everyone, just completed the long approval process for a duplex in New Jersey- FHA 3 1/2 % down, the amount to be financed was 211,000. Was about to go to closing, the mortgage company told me they couldn't get an under writer to close on it because they didn't believe I was willing to rent my current home out and move into One of the rentals.

    I have about  $ 20,000. - was only going to have to put $9,000. down, ( closing cost tied into price ) rentals were $1,200. Each. Would have been great income. 

My question is, what other ways are there to go about getting financing the next time a find a good deal like this? I only attempted to use FHA because of the amount of money I would have had to put down.

  Any ideas? Thanks.

[Brent Coombs]

@Greg Torian, any equity in your own home? Would renting out your own home easily cover your current mortgage? Maybe actually DO that, rather than tell the bank such an unlikely tale?

What? You never had any intention of renting out your home? You see what's wrong there?

Alternatively: Save up more? Start smaller? Go for a joint venture partner? Ask other Lenders?...