Lender · Chicago, IL · Member since 2019 · 13 posts · 3 votes
Hey BP!
I’m currently living in Berlin, Germany, but originally from Chicago! I’m looking specifically for a first property, which will be an investment in Chicago downtown, but I’m having trouble getting financing.
My current situation is okay credit, but still not great at 670. I do have equity 100-150k I can put down and make decent 6 figures.
Does anyone have good lenders or creative ways I can get 200-250k?
If you are a citizen, I don't see why you would have trouble qualifying for a mortgage. Try reaching out to national/online lenders. They don't have the best rates but you can still close deals.
I'm not familiar with any hard money lenders in Chicago. But if you go to the "Network" tab, then "Hard Money Lenders," you can find hard money lenders on BiggerPockets.
If you are a citizen, I don't see why you would have trouble qualifying for a mortgage. Try reaching out to national/online lenders. They don't have the best rates but you can still close deals.
@Frank Geiger it’s bc it’s my first property and it’s as an investment property. That’s why they keep saying I cannot get approved. I’m sure I could find a hard money lender, but again not in a huge hurry either way. Appreciate your help! Let’s connect on LinkedIn
@Steven Glod I have never purchased a primary residence. I have been stationed in the military in high cost of living areas. I never had a problem getting a mortgage. You probably aren't talking to the right person.