Buying a house

[Xavier Vazquez]

I’m looking to buy my first house.. I make good money. I have good credit, but I don’t have enough money for down payment. I was thinking doing the first time buyer.. I really would like it to be my first investment home. Any one with good Advise how can I move forward. I would like to invest in north New Jersey. 

Thank you in an advance 

[Dominic Mazzarella]

Quote from @Xavier Vazquez:

I’m looking to buy my first house.. I make good money. I have good credit, but I don’t have enough money for down payment. I was thinking doing the first time buyer.. I really would like it to be my first investment home. Any one with good Advise how can I move forward. I would like to invest in north New Jersey. 

Thank you in an advance 

If you want this to double as your first investment, take a look at house hacking. Buying a 2–4 unit property and living in one unit lets you qualify for an owner-occupied loan with a low down payment, while tenants help cover the mortgage.

If you'd rather stick with a single-family, FHA or first-time buyer programs can get you in with as little as 3.5% down. Either way, make sure the numbers still work as a rental for when you eventually move out.