Seller down payment assistance

2 Replies

I've found some properties in my [pricey] Bronx farm area and want to acquire my first investment. I have the option to use a VA home loan, but my credit took a dip and is still recovering. If I offer a down payment with the loan request I imagine my chances for approval will be much better. Does it make sense to ask the seller for down payment assistance and offer some sort of incentive?

Whatever it take and as long as the deal makes sense. Stick to your numbers and your desired return. You can offer a higher purchase price as incentive to be competitive in that market, which I know is highly competitive.