News - FHA 3% Down - 97% Loan

8 Replies

@Clay Manship  

It really doesn't matter if there is true equity there; it only matters that Fannie Mae thinks there is. Of course, they're wrong but since we don't set the rules, it is only important to play with what we are given. My firm also operates in the RTO space for ourselves and our investors and we find this news wire to be a confirmation that it's going to be 2006 all over again in the near future so get involved before the window shuts.

Originally posted by @Clay Manship :

Interesting @Brian Gibbons ...could you go into some more detail concerning the plays you could use on a home buyer putting down only 3%? With that little into the home, there really isn't any true equity there...

I have often wondered what the best ways to utilize this system, in combination with creative financing, would be.

 This will help you...

@Clay Manship  

do you always talk this rude?

 Do you ever say please?

There is enough to keep yo busy for 6 months.

I buy on terms, sub2, wrap, lease option

I sell on lease option or lease with rofr.

If you GET THAT, you know how to make money with them.

See my blog -

And I think I'm going to look into that IGNORE feature on Pro Accounts.

Originally posted by @Clay Manship:

So the question still remains--how do we take advantage of the situation? I am curious to hear how you both are currently doing it as we speak. With no 'true' equity in these homes, I would really like to know how @Bill Pohl  and @Brian Gibbons  are using the system to do deals.



Sorry to have offended.

lol is that an apology?


Dale Carnegie - How to win friends and influence people.


"One of the most neglected virtues of our daily existence is

appreciation, Somehow, we neglect to praise our son or daughter

when he or she brings home a good report card, and we fail to

encourage our children when they first succeed in baking a cake or

building a birdhouse.

Nothing pleases children more than this kind of parental interest and

approval. The next time you enjoy filet mignon at the club, send word to the

chef that it was excellently prepared, and when a tired salesperson

shows you unusual courtesy, please mention it.

Every minister, lecturer and public speaker knows the

discouragement of pouring himself or herself out to an audience and

not receiving a single ripple of appreciative comment. What applies

to professionals applies doubly to workers in offices, shops and

factories and our families and friends. In our interpersonal relations

we should never forget that all our associates are human beings and

hunger for appreciation. It is the legal tender that all souls enjoy.

Try leaving a friendly trail of little sparks of gratitude on your daily

trips. You will be surprised how they will set small flames of

friendship that will be rose beacons on your next visit.

Pamela Dunham of New Fairfield, Connecticut, had among her

responsibilities on her job the supervision of a janitor who was doing

a very poor job. The other employees would jeer at him and litter the

hallways to show him what a bad job he was doing. It was so bad,

productive time was being lost in the shop.

Without success, Pam tried various ways to motivate this person.

She noticed that occasionally he did a particularly good piece of

work. She made a point to praise him for it in front of the other

people. Each day the job he did all around got better, and pretty

soon he started doing all his work efficiently. Now he does an

excellent job and other people give him appreciation and recognition.

Honest appreciation got results where criticism and ridicule failed.

Hurting people not only does not change them, it is never called for.

There is an old saying that I have cut out and pasted on my mirror

where I cannot help but see it every day:

I shall pass this way but once; any good, therefore, that I can do or

any kindness that I can show to any human being, let me do it now.

Let me not defer nor neglect it, for I shall not pass this way again.

Emerson said: "Every man I meet is my superior in some way, In

that, I learn of him."

If that was true of Emerson, isn't it likely to be a thousand times

more true of you and me? Let's cease thinking of our

accomplishments, our wants. Let's try to figure out the other

person's good points. Then forget flattery. Give honest, sincere

appreciation. Be "hearty in your approbation and lavish in your

praise," and people will cherish your words and treasure them and

repeat them over a lifetime - repeat them years after you have

forgotten them. 

Principle 2 Give honest and sincere appreciation.

I think this post was mis-titled. FREDDIE MAC is offering 3% which is much different than FHA (which has always offered 3-3.5%).