How to start with little money down.

4 Replies

I seem to be having the worst of luck saving enough for a down payment

Do you want to buy a rental or purchase as your primary residence. There is cheap money about 4% or less for first time home buyers with a small down payment. If you want rentals, OPM is the key.

John Thedford, Real Estate Agent in FL (#BK3098153)
239-200-5600

Thanks John. I actually would like to house hack in either a duplex or triplex. Do all banks or lenders require a down payment or should I start seeking a partner for my first deal?

Originally posted by @Brianna Williams :

Thanks John. I actually would like to house hack in either a duplex or triplex. Do all banks or lenders require a down payment or should I start seeking a partner for my first deal?

Look at the FHA loans as a possibility. As long as you live there the required time, there is nothing stopping you from renting out rooms, etc.

John Thedford, Real Estate Agent in FL (#BK3098153)
239-200-5600

Try looking into naca.com. It’s a loan program for low to middle income earners and are flexible with down payments along with low interest rates. It’s a process to get qualified but if you can, it’s worth it and can get you into a multi family.

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