I have spent the last year working two jobs to save money and at the same time improve my credit.

We do not have much in savings for a down payment, however, our friends agreed to sell us the house for well under market value.

Unfortunately, my cash reserves for down payments are gone but I don't want to wait till I save up another 25% that the bank requires for a loan, so here is my plan.  

I work at a large engineering firm making around $64,000/year; I’ve saved up for a couple of years now and have around 40k in savings.

Save up now, make the sacrifices, pay your future self. 

s as well as my mortgage broker, but just figured its worth asking on here to save some time and legwork. 

Then save up money along with the cashflow and pay off that debt asap.

We've been working with Merrimack Savings Bank because we participated in the NH Energy Program and got an insulation grant from the state that MSB sponsors.

I'll take the $100k (after taxes) reinvest it to save future hard money costs (7k/ year guaranteed savings & less risk/ reward) However The argument can be made to refi, get the amortization, cashflow, and appreciation; & 1031 into a new deal down the road!!

It’s not worth gaming for the amount it would save.