Is 60k loan possible?

6 Replies

@Dominique Mickles You should also look into 3% down conventional loans as well. Often, they are at equal or better terms than FHA loans.

You should be able to qualify if you have a good credit score, reasonable DTI and have a decent job.

Originally posted by @Dominique Mickles :
@Omar Khan I have a great credit score but a part time job

Any lender will be looking at your ability to service the loan (i.e. payback the mortgage amount every month). You should be good as long as your income qualified for the mortgage.

Obviously, it is not as simple as I've described but wanted to give you a high-level overview. 

Best bet: Network on local REIA meetups (warning: these are full of "gurus" with sales pitches... avoid them!) and on BP before diving in a deal. Experience, local investors should be able to connect you with investor-friendly resources in your preferred market.