A VA home will have to pass lender qualifications for inspection.

Most Chicago multi-unit sellers won't seriously look at offers without some proof of qualification.

I would phone screen them, if they meet the minimum qualifications I would then set up a showing.  

Different lenders will have different thresholds for qualification, but even if you have no other debt, this isn't going to leave you with much to pay for a mortgage.

On a residential 1-4 sure you could qualify for many scenarios with limited to no experience in Mo-Val homes are relatively inexpensive compared to orange county or LA county.min qualifications are620 fico6 months reserves + closing/down payment1-4 unityou could use FHA financing as well if you're okay with living in one unit and renting the others out as well if it makes sense to do so financiallyAnother benefit with 1-4 is you can use 75% of gross rents to offset your mortgage if you're buying as a non owner occupied property so this requires you to have less income.I have some other more indepth articles on my BP blog about financing real estate and what to look out for as well.Good Luck

., 3 of which met all the qualifications I wanted, (3x rent, 680 credit score, minimum 12-months at same work place, 2 solid former landlord recommendations, $1000 security deposit, etc.) and had it leased out within 7 days.To be honest, I probably should have pulled the ad and pushed the price up, but whatever, I'll just remember that for the next unit I open up.

The VA loan is easy to use for a primary residence, but the qualification of the process is the same as any other type of mortgage. 

Jesse Olsen your qualification amount can only be determined by a qualified loan officer who is familiar with FHA guidelines on qualifying income, debt-to-income, etc. unfortunately, most of what I tend to find online is incorrect or outdated.

Javier,Your credit cards aren't going to have anything to do with your qualification of a loan.

I plan to use Cozy for rent qualification and online rent payment.