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Updated almost 8 years ago on . Most recent reply

User Stats

58
Posts
9
Votes
Assaf Kehati
  • Brooklyn, NY
9
Votes |
58
Posts

How do I get a mortgage with 25K yearly income?

Assaf Kehati
  • Brooklyn, NY
Posted

Would love to get some help :)

I have 90K cash

It's the first house I'm buying

Looking for an investment property for cash flow

I don't have any debt

My income is only 25K a year.

The banks wouldn't give me a mortgage since they say that my income minus my current rent and other expenses doesn't leave me any cash for a mortgage payment even that I would be renting out the property I'm buying and that would cover the mortgage.

Any ideas how to get a mortgage with those numbers assuming I'm not going for primary house?

Thank you!

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