Personal Loan for Cash only House

[Tyler Standish]

Hi,

I am hoping some bankers can lend some advice on this subject (but anyone can). I am trying to purchase my first flip and have run into so many good deals but can't get them because they are cash only. I am considering taking out a $40k personal loan so that I have the cash rather than going with a conventional mortgage. My question is will a bank go for this? I have excellent credit (credit scores of 763 and 768), my debt to income ratio would be about 34-35% with the $40k loan, and I would be using the same credit union that I have been with for many years. I have had 2 car loans (paid off), a personal loan (paid off), and my personal home mortgage with them...never late on any payments. I don't really have much I could offer as collateral as my personal house already has a HELOC on it and there isn't a whole lot of equity in the house when you factor that in. And my car is only worth about $10k, at best.

Thoughts or advice?

Thanks!