I’m in college in Bothell, Washington looking for a multi/single family I could get an FHA loan on in the next year. Does anyone know how to make your monthly payments as low as possible? Everything is pretty expensive over here in Seattle so pushing the monthly expenses as low as possible is necessary. Or would you recommend not buying my first investment house in one of the hottest markets in the world? Or could I make it work? Thank you for your response! Devyn

The only real way to lower your monthly payment did by financing less with a larger down payment. You COULD look into interest only ARMs with a balloon, but you could have trouble refinancing if/when you need to.

Overall, just because a market is hit doesn’t mean to avoid it. It just means that you need to be triple sure in your numbers. App your margins and details will be tighter, so don’t leave any room for doubt.

Send me a pm if you’d like to chat more.