I am more of a high risk investor, so I am not recommending what I did; its based on your risk tolerance.Hypothetical Situation:Acquisition: $55,000 - Hard Money Lender Construction: $20,000 - Hard Money LenderEarnest Money: $15,000 - 0% intro APR business credit card (will get back with hard money acquisition money)Closing Costs & Other Fees: - 0% intro APR business credit cardPaying Contractors: - this depends on if the $20,000 from the hard money lender will be given in draws or not.

In terms of getting a pre-approval, you should be able to find a bank that will give you a pre-approval letter by showing your income, expenses, debts and taxes.

No way to tell if it’s a good deal from the info provided but if you’ll be buying with a loan and going after listed properties you probably will want to get a pre-approval letter up front.

Even in their examples, their "equivalent APRs" are 12-15%.

Hello all, I’m looking to purchase my first SFH alongside my wonderful girlfriend in or around Portland, or.I’ve been scowering the mls and major sites for deals and have had minimal luck so I am reaching out and trying something different.We have a pre approved for 315k using fha at 2.5% interest rate and are hoping to settle around the Gresham area.

I currently live with my parents, they have about 3 loans on the house and different APRs and another loan that is taken from their 401k totaling about 270k.

It's not uncommon for a pre-marketed property to have a few interested buyers (or in some markets many interested buyers) the day the property officially hits the market. 

I like a lot of cushion so I do my best to be all in way under its APR.

This is where speaking to a Lender is very helpful and having a pre-approval in place before actually looking at properties is crucial.

While my debt is not unmanageable (and low interest as my CC still has a 0% APR), it's still there.