Banks also look at your income, reserves, DTI (debt to income), Employment duration to name a few..

Instead of going into debt to save, pay off your cc debt. 

I hate debt as much as anyone on here, but having more options is better than less.

For a conventional 97% LTV loan, you are looking at a minimum credit score of 620, and you can have a debt-to-income ratio of up to 50% per automated underwriting system approval. 

Hi,Can someone help me understand what is the difference between Preferred Capital and Debt when it comes to Real Estate.

I payed off all my credit card debt and my score almost immediately rose by 40 points.

For purchasing, I prefer to look at homes needing TLC from the MLS and see no problem paying retail because the appreciation always makes sense after 1 year if I can get a property with rent at a level where the debt service coverage ratio is 1.45 or above.

However, you can’t garnish/intercept tax returns unless you’re a government agency or it’s a government debt. 

As example, list segments in Lufkin for single family homes <$100,000 with 2+bathrooms (the county doesn't report number of bedrooms) owners known to have low equity eliminated: 208 Seniors, age 60-89, 15+ year residence96 Absentee Owners215 Owners with Low Financial Stability Scores, age 40-89, 5+ year residenceThese are great potential sellers for you to mail a letter of post card letting them know how easy you can make it for them to sell their house to you.

Are you suggesting that by owning more properties with leverage (vs owning less with no leverage) that I have greater value because those homes will appreciate over time and I'll pay down the debt over time?