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Updated over 8 years ago,
Financing advice-Grad student looking to buy a house in St. Louis
Hi everyone,
I am starting graduate school at Washington University in St. Louis, Missouri in the fall. I am currently in Seattle and I want to buy a house in St. Louis instead of renting. However, I don't have full time work experience and I know this affects my ability to get a loan (only 3 six month internships while in college). I have about $6k in savings. What are my best financing options?
I am looking for advice on how to go about seeking financing to buy a house. Who should I talk to to get financing? How do you figure out what lenders are available and who to speak with? Also, should I be talking to banks and lenders in Seattle or wait till I get to St. Louis Missouri.
PS: My current plan is this. I use the rent money provided by my parents to finance the mortgage while I'm in school and either sell the property or rent it out after two years (when I graduate).
I am completely new to real estate investing and your advice will be very much appreciated! Thank you!