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Updated 17 days ago on . Most recent reply

Help! I can't get pre-approved!
So, my business partner and I have run into a little bit of a roadblock. Finally got done building personal credit enough to seek pre-approval (as I have only just turned 21 years old). I have been asking around to different lenders, both Conventional and DSCR, and have been asking what kind of criteria I need to meet in order to apply for pre-approval confidently. To which I have been told that we would need around 25K-30K in liquid assets in order to be approved. This seems ridiculous to me considering that's almost 40%-50% of the loan we are seeking. Any advice from you guys?
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Quote from @Jadon Grant:
So, my business partner and I have run into a little bit of a roadblock. Finally got done building personal credit enough to seek pre-approval (as I have only just turned 21 years old). I have been asking around to different lenders, both Conventional and DSCR, and have been asking what kind of criteria I need to meet in order to apply for pre-approval confidently. To which I have been told that we would need around 25K-30K in liquid assets in order to be approved. This seems ridiculous to me considering that's almost 40%-50% of the loan we are seeking. Any advice from you guys?