First financial loan and down payment.
Good morning.
I am a single mother from a divorce which has left me with poor credit and just less than 10k in savings. My problem is that 20% to 25% down payment. I am looking for a duplex or triplex and I cannot live in for the 1 year minimum for the fha loan. I want to start my investments NOW but i know there's a method to the madness.
Anyone else experience this hard hurdle? Advice? I am a newbie maybe my understanding of these types of loans is not correct. This first loan to purchase seems to be the hardest obstacle to overcome atm.