Forums: Discussions for entrepreneurs and small business.

There are a variety of programs out there that can help you with a home or business purchase, and maybe leave some money left over for you, too.  For example, a for-profit organization that helps with down payment / closing cost funding with a 1099 income plan is www.dpfunder.com.  It is possible they can help you with the extra funds you need to purchase property, either residential or commercial.  Another example might be www.nehemiah.org, which is a non-profit organization providing grants, that help with residential down payments.  There are plenty of these types of businesses out there, it will take your due dilligence to sort the good from the bad, and discover just what is right for you.

You can use a 2nd mortgage on a home for the down payment of another home. The payment for the 2nd mortgage will need to be added to your debt ratios.

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Thanks
Ricky Mik
All about Home Mortgage