All Forum Posts by: Assaf Kehati

Ok Brian, is the limit one forum?

Thanks Andrew. Or I can look for something for $90K. Any good areas for that kind of money?

Hi Brian, yes I posted three times in forums that I thought it's relevant, I'm new here (joined in 2016 but wasn't active more than a week), can you post the same question in different forums or it's not ok?

Thanks Craig. Still looking for something more creative :)

Thanks Chris, 

As self employed I deducted certain things such as home office, business trips, etc. so the income is actually higher, but on the paper it's low.

Hi Peter,

Yes I totally get the mechanism but if I have 90K and getting 80K from the bank at 5% I can buy something for 170K, monthly mortgage is $420, taxes and home insurance around $350 total.

For that kind of house I can easily get $1200, so I don't see any problem with that deal, but still the bank has it's own rules. I don't want to move to the property because I live in Brooklyn and I'm planning to buy somewhere else so it wouldn't be "First time home buying programs". 

The question is, is there anything else available?

Would love to get some help :)

I have 90K cash

It's the first house I'm buying

Looking for an investment property for cash flow

I don't have any debt

My income is only 25K a year.

The banks wouldn't give me a mortgage since they say that my income minus my current rent and other expenses doesn't leave me any cash for a mortgage payment even that I would be renting out the property I'm buying and that would cover the mortgage.

Any ideas how to get a mortgage with those numbers assuming I'm not going for primary house?

Thank you!

Hi Andrew, that sounds great, so by doing a multi family I could get a mortgage even with my low income?

Hey guys I need your kind help and expertise!

Here is the story:

I have 90K cash

I'm looking to buy an investment property for cash flow

My credit score is great (above 800)

I don't have any debt

It's the first house I'm buying

The problem: my income is low, 25K a year.

In this conditions the banks wouldn't give me a mortgage since they say that my income minus my current rent and other expenses doesn't leave me any cash for a mortgage payment even that I would be renting out the property I'm buying and that would cover the mortgage.

Any ideas how to get a mortgage with those numbers assuming I'm not going for primary house?

Thank you!

Hey guys I need your kind help and expertise!

Here is the story:

I have 90K cash

I'm looking to buy an investment property for cash flow

My credit score is great (above 800)

I don't have any debt

It's the first house I'm buying

The problem: my income is low, 25K a year.

In this conditions the banks wouldn't give me a mortgage since they say that my income minus my current rent and other expenses doesn't leave me any cash for a mortgage payment even that I would be renting out the property I'm buying and that would cover the mortgage.

Any ideas how to get a mortgage with those numbers assuming I'm not going for primary house?

Thank you!