I'm new to the BRRR method and am anxious to try it out.

[Helen Brennick]

I would like to buy a house or multi family dwelling near Sulphur Springs, Texas, which is located east of Dallas.

I'm nervous to try to get a loan with 3.5% down. Any suggestions?

[Jason Wray]

Helen,

There are more than a few loan programs that offer a low down payment and fairly easy to qualify for a new primary home.

FHA 3.5% Down, Fannie Mae 5% Down, Fannie/Freddie 3% First time home buyers programs.

Credit scores under (695) I would suggest FHA due to flexible fico requirements. Credit above (700) Fannie Mae easier on guide lines and finally Freddie Mac almost mirror image.

FHA will allow higher debt to income ratios for DTI. Fannie/Freddie have lower caps on DTI.

Fannie/Freddie will have Lower PMI versus FHA MIP if your Fico is above 720.

FHA 3.5% may have a tougher time getting offer accepted by seller versus Fannie 5% down.