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Updated almost 6 years ago on . Most recent reply
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getting a loan for a duplex
Hi, to all you loan experts, i could really use your knowledge. I am going to start college soon and i figured buying a duplex to live in and rent out would be a great idea. The best i can do for income as a student is a part time job, say 1000$/month and i can do that for 12 months straight but maybe not longer. My question is - is there any lender that will agree to a loan with a smaller downpayment, considering i can cover the mortgage with my rental income + LOW job income? I have great credit (750) and over 100k in savings that i prefer to NOT have to take a lot from. Thanks.