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Starting Out

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16
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6
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Steve Gunasingh
  • Military(Navy)
  • Olympia, WA
6
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16
Posts

I guess this is a starting out question also.

Steve Gunasingh
  • Military(Navy)
  • Olympia, WA
Posted Apr 15 2016, 08:58
Hello BP, I have been working on finding a property to invest in. I have about $30k for a down payment however I am not able to qualify for a conventional loan because my debt to income ratio is too high when the mortgage payment is added into my expenses.(E-3 in the military) Wells Fargo has a loan for future income based mortgages however I need * Receipt of a security deposit from the tenant and verification of the deposit into your  account * 2 months of bank statements verifying receipt of rental income. So I can only purchase a home with someone living there already. My problem now is how do I go about finding such a property? I want to find one in Washington or Oregon. I have considered this turnkey management "www.homeunion.com" but they only operate in the East coast.

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