what are my options


new to all this an wondering what my options were for financing investments. I am unemployed, decided to go back to college. I have a house that is paid for worth 42k. Beside HML, private investors, seller financing, is there any other way to finance properties without selling my house. I am living on college grants and a few loans so have no income verification.

Your credit might be stong enough for “no doc” loans…Be careful.


Don’t jump to fast. Not only do you not have income verification…But you don’t have any income. If you are investing in real estate you need to make sure you can take care of any problems that come up with your new investment.
4EEM is right you might have a strong enough credit score to go with a loan that does not prove your income. But be prepared to make payments on something even if it is not rented.
I know you are probably careful anyway but i just wanted to lend you a word of caution.

My credit score is 735. Where can i find more info on “no-doc” loans. Would i just be able to borrow the limit of my equity? Or would i be able to use my HELOC as a down payment and finance the rest using a “no-doc” loan? Would i be contacting my bank for this type of loan or would i be better off finding a good mortage broker? Oh, and thx for your concern, I am careful with my money. It is how i was able to go back to college. And i’m cheap when its not concerning investments :wink:


You can get up to 95% LTV on a N/O/O purchase. You can use your HELOC for downpayment.
Most banks do not have N/O/O no doc programs. You will do best with a broker.

Hello Joey123, Your credit score is good. The private money investors I work with would maybe want a 5% downpayment. Maybe zero. Then you can keep your house and equity.
But what concerns me is the fact that you do not have a steady income. They would be concerned with you being able to repay the loan. Your project would need to be extremely solid for them to consider your situation.
At this point, the only other financing I see for you would be to get a partner or borrow money from your parents.

Chris is right with his concern…And you would be “safer” if you had friends/family lend you the money. But, if you want the financing it’s out there.

thanks for all your responses, great site. I’ll look into these options.