All Forum Posts by: Rachel Wood

Thank you for sharing your experience. What you say makes sense.  My husband and I would love to chat with you sometime :)

I will look into a real estate investors association.  Thank you for that idea!

We actually don't have terrible credit.  My credit is in the high 600s and my husband's is in the low 700s.  What I mean by 'we've not been smart with money' is while my husband has always worked hard and made sure we have everything we need to survive, we've had a serious lack of money management between the two of us, so we have a very small emergency fund and zero retirement/investments, and for the most part have lived paycheck to paycheck...though we don't own extravagant things.

I guess I will also clarify that we are currently under contract to buy our first home (for residential use).  We just found out last Monday (2 and a half weeks into our contract) that we may not be able to secure the financing that we had been told all along wouldn't be an issue, because of the word 'commission' on my husband's check stubs. We have had 2 lenders now tell us they can't help, and we currently have 2 more looking over our situation to see if there's a loop hole of some sort.  IF we do get this loan and get to buy our house, I can't imagine anyone would be willing to loan us any more money for quite a while...at least until my husband has been at this job for two years.  So, that's why I made the statement about not being able to get a loan because he is paid commission.