Im new to the BP forum and needed some advice/clarity.
In the near future I expect to purchase my first home that will eventually turn into an investment property. My partner and I will be living there and renting out a couple rooms for the first 3-4 years.
Would it be reasonable to take advantage of the 0% down for being first time home owners, or would it be ideal to just put a percentage down?
Hi @Vanna Aguon , welcome to the BiggerPockets forums!
The final answer to this question will need to come from you based on your goals, values, and aspirations. The right answer for one person can be the complete wrong answer for another based on their individual needs and hopes.
So, subject to that ^^, here are my 2 cents . . . if you have access to a 0% down loan AND you can purchase the home at a price that makes sense then it's a great fit! Make sure that it is a long-term fixed rate loan and the interest rate is at roughly what you'd be paying for a 3% or 5% down loan.
The money that you don't bring to this closing can be used as an emergency fund for this property, or it can be put into another investment and can earn you some more experience and cashflow :)
@Will Fraser That makes sense, thank you for your help!!
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