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The Investor’s Guide to a Single-Family Rental Emergency Fund
As real estate investors, your emergency funds are a critical line of defense against unexpected costs. It prevents you from dipping into your budget to handle them. But what should you really use an emergency fund […]
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Starting Out
HomeForumsStarting OutFinancing Advice....
Timothy OConnor's profile image
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Timothy OConnor
  • Investor
  • from Howell, NJ
  • Member since Jan 29, 2015
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Timothy OConnor's profile image
Timothy OConnor's profile image
Timothy OConnor
  • Investor
  • from Howell, NJ
  • Member since Jan 29, 2015
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Timothy OConnor
  • Investor
  • Howell, NJ
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Starting Out

Financing Advice....

Timothy OConnor
  • Investor
  • Howell, NJ
Posted Feb 24 2015, 18:09

I am looking to purchase my first investment property and was hoping for some insight or direction! 

Quick facts: 

Looking for a home in the range of 50-70k 

Down payment- 20-25%

Credit - 770 

I went through Quicken Loans to see what I could be pre-qualified for and they asked if I would be willing to look in the 100-120k range for a property. They said that the loan amount would be to small compared to the value of the home. Is this typical when searching for financing in this range? or should I be able to find a lender for this situation? 

Any advice would be greatly appreciated! 

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