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I am widowed and trying to transition to a smaller house.
I have 500K in investments, a $125 acre farm that I am selling,
and 100K equity in the house I live in. I am a professional that
will make about 60K in a high demand medical profession .
I haven't worked in a long time because of raising a family, but plan to go back to work very soon.
I have found a perfect 200K house that is a rare find , right next to a 400
acre nature park and ranch style which is what I want. My current house is ready to go on the market.
Is there anyway to buy this house before it gets scooped up by someone else.
My credit rating is perfect and I have a good financial head on my shoulders and know that I have the ability to carry the loan until the land and other house sells. I could even rent it out until I sell the other.
I don't want to sell stocks , but I could do a margin loan for about 100K .
I could ask for someone to cosign this loan but cosigning is such a bad idea for anyone.. Do banks give loans for 50 % when people have investments,
professions, and perfect credit ??
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