Tried numerous attempts without 20% down, but need it in order to get loan. Any suggestions?

[Ryan Woodward]

Any help is awesome. I have pending a property with 2 separate houses on one parcel. 2 bd, 1bth, & separate garage + 1 bd, 1bth, & sep. garage. Asking $145,000. I have $10,000 in bank, $10,000 in stock market. 1. I have tried going FHA, but no comps in the area, 2. I have tried going USDA, can't because of the investment potential, tried going 3.5% down on conventional loan, but didn't get approved because of MI companies rules. Looking for some tips on what to do... Should I ask family and friends to loan to me with a decent pay back rate? I would like to live in one property & rent the other one out if it matters? Any suggestions help!

[Jon Holdman]

Personal loan is a loan from a bank based on your signature. Those used to be called "signature loans", but I'm probably dating myself with that term. Not too many banks still do those. A credit card cash advance is sort of the equivalent. But try credit unions and smaller banks, especially if you already have a relationship with one. I have a personal line of credit with a credit union, but I've had accounts with them for over 30 years and have had this line of credit for over 20. But they do still offer them. They're not in you're area, though.