In that scenario, then it makes sense to house hack, lower your housing expense, gain appreciation, loan paydown, and have your own place. 

You can also get a personal loan up to $50K which typically is to pay off credit cards debts, do renovations etc, but it can also be used as a down payment.

You would probably have to bring money to the table to get the balance down.If your going to do that you should consider paying the loan down now and asking your lender to recast or reamortize your loan Don’t forget about the tax benefits.

From what we know of the cost of the house plus to finish construction we can afford the loan.

Class B typically cashflows from purchase or within a year or so.Class C typically cashflow well from purchase, but has tenant performance challenges.Read copy & paste info below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

SorryCheck like a 203B loan

---Our standard copy & paste about this is below, hope you find it useful:)Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

We specialize in DSCR loans and would be happy to jump on a call to discuss further.Bobby

Jerry, multi-families small balance loans mainly and financing that makes sense below 7% with longer terms as we buy and hold. 

I was thinking starting with that to growth some financial aid.