looking for financing suggestions

1 Reply

looking for some guidance. i have been listening for the last 8 months and think i have overcome my fears but have some problems. I filed bankruptcy in 2014 and now I have $10,000 saved for my first rental property. We owe $35,000 on our primary residence valued @ $140,000. I found a rental investment for $76,000. my credit score is about a 706. is it even possible to purchase?

Hi Rebecca,

You can easily get approved for a mortgage to purchase your rental. A bankruptcy filed 2+ years ago is no issue at all.

Typically you would need 20-25% for downpayment. You have equity in your primary residence, so refinancing could be an option to obtain the additional funds needed.

Besides that, you should be good to go!
Feel free to reach out with any questions.

Good luck!

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