I am looking for a building no more than 60000 and I am having a hard time finding a loan. My credit score is 627 and I have $ 5000-6000 I want to

Asked by Josua Hunt, Chicago, IL Mon Jun 9, 2014

live in one apartment and rent the other one out. I have been on my job for 8months and I am a junior in college. I want to buy a house asap. Can anyone help me. I'm in Chicago.

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Dan Tabit, Agent, Issaquah, WA
Mon Jun 9, 2014
Josua,
While you're in college, I suspect you're not working in your ultimate career field. Without knowing what you've done so far it's hard to suggest, but you might want to meet with a Portfolio Lender. These loans are kept in house and not resold like Fannie Mae & Freddie Mac loans through most sources. A regional. bank or possibly a mortgage broker may have a source for you or will tell you what you need to achieve to qualify. 10% down for a multifamily may not be enough, but the lender will know for sure.
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