If you have credit up to a certain level, most counties do down payment assistance and have other kinds of grants that promote homeownership for people who don't have a lot of money of the greatest credit.

If your asking these questions here, find a friend who can help so you don't get fleeced.Drawback is usually the loan is more expensive/higher rate, they may not report to credit agencies (won't improve your credit, but this can keep your documented DTI ratio lower which may be good) and if they do use a servicer, somebody (you, unless you negotiate otherwise) will pay a service fee to have your money processed every month.

I have $15,000 in business credit, excellent credit and still saving up cash.

What is my recourse when investor is not cooperating with prior owner in.  

I’m here to ask the experts which route I should take, if any.Basic details about me: I’m 34, recently married and no kids but planning to within the next 2 years(this detail is just for you to know that I don’t have much restrictions on moving aside from commuting)I currently own a coop in Yonkers, NY with roughly 50k in equityI am willing to invest in the tristate area but if I have to live in the property I have to limit my distance to Bronx, Westchester and Connecticut.I also have enough saved to buy a 275k property with 20% down or the max allowed with an FHA loan (this is without having to sell my coop)I have excellent credit which will qualify me for loan without an issueThe way I see it I have 3 options in order to get started: Sell my current coop, buy a triplex in a worst neighborhood with more TLC needed, and move to into the property for at least 2 years to qualify for an FHA loan.

Shouldn't affect your traditional lines of credit to do more deals with.

Show them your credit score, references.

The sponsor argues that they get credit for bringing the millions of financing their reputations allows them to secure to get the project done.

Do you mean that you want a reusable line of credit like a credit card?

@Blake ChapmanMy personal favorite vehicle for leveraging a property is a Home Equity Line of Credit.