Need a creative advice on getting approved on a second loan

[Alick Patrick]

Hello BiggerPockets!

I started investing in real estate early this year. So far I've managed to purchase one SFH for $385,000 15 miles south of downtown LA and a 3-unit Multi-Family property about 2 hours east of LA. I was able to get the SFH on 3.5% FHA owner-occupied under my name and the MFH also at 3.5% FHA owner-occupied for under my GF's name. I am on my third property now which is another SFH just 20 feet away from my first property. The price is $415,000.

Because I've used up all 3.5% FHA loans I could the lender I worked with managed to convince me to use my GF's son for the new loan. He would be the primary borrower and I would be the non-occupying co-borrower. Everything was fine at first until we were told by underwriter that we don't qualify under FHA guidelines since the primary borrower is not really my relative. I tried looking for another lender and was told the same thing.

Any ideas on what other options I have to be get qualified on a loan at 3.5% or 5% down. Unfortunately I don't have enough funds to put any more than 5% on this property.

I don't have any other relatives that I can work with to co-sign for me. I also don't want to marry my GF just for this purpose.

Thank you!