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Updated almost 5 years ago on . Most recent reply

User Stats

36
Posts
3
Votes
Walter Parker
  • Investor
  • Charleston, SC
3
Votes |
36
Posts

Qualifying for FHA Loan

Walter Parker
  • Investor
  • Charleston, SC
Posted

I've recently met a friend that is willing to lend me a good some of money to purchase a duplex in Charleston, Sc. He is willing to give me the full deposit ($25k) with the thought of splitting cash flow/ disposition 50/50. My lender however, still can't seem to qualify me for an FHA loan. My credit is above average, my tax records are mediocre, and I do not have a lot of money saved. I'm a commercial real estate broker so don't have steady money. Should I get a side job as a solution to qualify. I need guidance on how to qualify without quitting my job or taking on another job that I don't have time for. Suggestions?

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