IN PROCESS FOR FIRST CONDO PURCHASE!

[Jerry Cinor]

Good evening guys,

Been few months since I’ve post in here.

After doing lot of research, reading books, and taking advice from BiggerPockets and everyone else that I can learn from. I’m ready to break the ice.

In my previous post I talk about how conservative I am to risk. And even startup a discussion about “cash buying vs financing”

I’ve been working with a realtor and found few condos that I like, and cost around $50k. Waiting on hoa reserve numbers,bylaws, restrictions and etc... if everything comes as expected, I  would like to buy cash. As I have the funds to do so.

But as a first time home buyer.

how can I get qualified for first time homebuyer if paying all cash?

I want to get a personal loans of maybe $15k to have reserve. As I’m very close on my condo price on my savings.  And I don’t think any lenders will mortgage me $15k. 

does that sound like a good idea?

Thanks in advance guys.

It’s happening!!!

[Harjeet Bhatti]

@Jerry Cinor Some lenders can offer you HELOC on the property for small loan amount.