NYC .. I can only offer 3% down .. any tips

[Michelle Backer]

I live in nyc

I can only offer 3% down at the moment

Any creative tips? I was thinking of buying a Fannie Mae property or any REO property and get funding that way.

FHA yet the homes here are super expensive so that might not be possible. Another one is an FHA construction loan although I have no idea what sort of headache that will turn into.

Another option would be if I look into sponsor units which usually accept 3%, depending on the loan.

I have lived in nyc my entire life. I understand now prices are high yet am waiting for the inevitable cycle when it goes down.

Any tips are appreciated!

Happy Thanksgiving!!