Hello DG Family!
I am wondering what are the possibilities of me getting a mortgage approved for a house selling for $28,500 in New Jersey with an approximate market value of $250,000 after some repairs and improvements.
It's a 3 family home and I plan to live in it and rent the other two units so I can have monthly positive cash-flow..
I am going to have about $10,000 saved up in the bank by the time I decide to purchase this home or similar one. Maybe having this money would make the lending agency approve the loan faster.