I've gone through this before working with clients to get their credit up to qualify for a loan, and as much as the debtor will make it seem like they have no control on deleting the tradeline, they absolutely do and anything beyond that is just company policy.

3% 30 year loans from 3 years ago have caused a gridlock in the housing market.

Do you know the loan amount you will qualify for?

@Noel Dixon The most overlooked thing I see when people talk about assumable mortgages is that, if you can get approved by the lender holding the mortgage, you will need to bring the difference between the loan and purchase price in cash.

For those new to the idea of cost segregation, it is like getting a free loan from the IRS.

• Purchased directly from a mom-and-pop operator off-market• Secured $1M credit union loan and raised $500K equity to close• Existing owner had inflated expenses and below market rents• In-place rents approximately 30% under market at purchase• Expense ratio at least 10% above the norm How did you find this deal and how did you negotiate it?

If the seller is willing to do seller financing, that seems like a much better solution than doing a USDA loan, but is it really?

For example, even 50% down payment, the loan repayment is still more than the rental income. 

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If you wait, you'll be able to get an owner-occupant loan and house hack, putting far less money down with a better interest rate.