Even in South Jersey, where the purchase prices are lower, there is a silent pool of tenants waiting to be able to afford a place to live that may not qualify for a mortgage.

Get buyers on board (maybe someone who doesn’t yet qualify for a mortgage, but is financially prepared to purchase).

And what you qualify for will dictate a lot of your search as well.The path forward is pretty simple.

Obviously based on your FICO, but seeing 6s pretty consistently with some programs with qualifying FICO/values.

The thing that is concerning is the $30K cash since, at 90% LTC (which this deal does qualify for), the cash to close is roughly $37,000.00.

If you want to invest in real estate but don't have enough personal funds to do so, consider an SDIRA or Solo 401(k) if you qualify. 

Very likely neither party will qualify on their own.

If they are able to sell to a home owner, its usually the home owner who can barely qualify for an FHA mortgage, turns over extensive repair addendums because they recognize they don't have the means to handle home repairs on their own and must have the home 100% move in ready. 

It has 2 units, both with bedrooms and full baths. 1, Would this property qualify for a residential loan or a commercial?

.⏳ After that period, if you decide to move out to purchase your primary home, a lender can use 75% of the total rental income from the fourplex to enhance your overall income for qualifying purposes.😀 This can be a fantastic opportunity for those looking to invest in real estate while managing their living expenses.