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Updated over 5 years ago on . Most recent reply

User Stats

11
Posts
4
Votes
Leo Glazer
  • HI
4
Votes |
11
Posts

What you will do if you was me !?

Leo Glazer
  • HI
Posted
I saved 150k I study for long time to be ready I’m looking for buy 2-4 doors (Florida /Ohio ) I apply for home loan I was 100% positive that I will get loan I ask only for 200k thy give me only FHA loan My credit it’s excellent score I have free rent I don’t have expenses The bank saying that I don’t have enough long history of credit What you will do if you was me ?

Most Popular Reply

User Stats

63
Posts
53
Votes
Matt DeBoth
  • Rental Property Investor
  • Carroll, IA
53
Votes |
63
Posts
Matt DeBoth
  • Rental Property Investor
  • Carroll, IA
Replied

@Leo Glazer use that $150k you have saved up and buy a $120k house in cash and keep $30k in reserves. Move into it and after 12 months refinance it at 80% LTV and take that cash and go buy another house in cash or see if you can get a loan.

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