Collateral lending help

[Nikol Catino]

Looking to buy a  primary residence in the range of 350k for house hacking purposes and I want to use my paid off condo as collateral, but I only make 60k per year and have a 640 credit score. 

[Wale Lawal]

@Nikol Catino

Using your paid-off condo as collateral could help you leverage equity for your house hack, but with a $60K income and a 640 credit score, your loan options may be somewhat limited. Consider a home equity loan or HELOC to tap into your condo's value while improving your credit score to qualify for better mortgage rates. Also, explore FHA or VA loans (if eligible) with low down payments to maximize affordability.

Good luck!