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Creative Real Estate Financing

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Steve A.
  • New York City, NY
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First investment property financing question

Steve A.
  • New York City, NY
Posted Sep 15 2017, 10:35

Hi everyone, we finally did it. Took the first step and put an offer on a property. Now we need to finance it. We spoke to Quicken and said they wouldn't finance our investment, because it wasn't a primary residence or vacation home.  They also said assets cannot be used when financing investment properties.

Problem is we're not sure how to finance this. Do we say it's a vacation home?  Does anybody know a lender in the Seattle area?

Specifics - 

Currently own primary residence with mortgage. I am not currently working. My wife's income is about 35k/yr. Combined we have approx. $1million in assets, above and beyond primary residence.

Any ideas how to finance this and any lenders in Seattle area?

Thanks!

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