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Updated almost 7 years ago on . Most recent reply

User Stats

64
Posts
14
Votes
Andrew Giunta
  • Paramus, NJ
14
Votes |
64
Posts

Am I forced to pay in all cash?

Andrew Giunta
  • Paramus, NJ
Posted

I have no income, but instead a lump sum of cash that I made selling a company. I am currently helping my mother get a mortgage so I will technically share around 220k debt with her, but I have 500k-1m im looking to invest into property. Are there any mortgages available that would let me not show income, but also arent a ton higher when it comes to the rate? I read something about some loans where if you have a 50% LTV they dont ask for income. What would you do in my situation, or is my only option to buy a few properties in cash, establish the income then finance more ?

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