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Updated over 5 years ago on . Most recent reply

User Stats

27
Posts
5
Votes
Jamia Stevens
  • Accountant
  • Nashville, TN
5
Votes |
27
Posts

What to do if you don’t have enough money saved for down payment?

Jamia Stevens
  • Accountant
  • Nashville, TN
Posted

I’m just starting out and I was trying to get a preapproval letter so that I could know what price range to start looking in. I was told that I should save up $10,000 before I even consider getting a preapproval letter but that would take me years. I would love to buy my first property by May but how do I come up with that kind of money? Should I try to look for a partner that would contribute the capital or what do I do? It was discouraging to hear that so any and ALL advice would be great!!!!

Most Popular Reply

Account Closed
  • Real Estate Agent
  • Cleveland, OH
295
Votes |
359
Posts
Account Closed
  • Real Estate Agent
  • Cleveland, OH
Replied

@Jamia Stevens is house hacking with an fha loan an option for you? That would be the best method to get started sooner with a small cash fund.

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