100% financing on first property

[Antoine Pippens]

I’m finally starting to act on my first property I’m looking to house hack my first multi family. I’m looking for fha fixes rate loan with average credit so I can put down 0-10% down. My question is finding a mortgage broker or lending tree the best option for me? Or small community banks?

[Sasha Mohammed]

The post above is spot-on about Lending Tree. Avoid submitting your contact info/ really any info to them, they sell their collected data on the back-end as "leads", you will receive plenty of unwanted calls. 

To my knowledge, the only way to get a 0% down is as a Veteran. FHA will allow for low-down, but conventional has also opened up to low-down as well. I believe the lowest is 3.5% with conventional, 5% down with FHA. I could be wrong, it's been a while since I've worked on conforming loans.

I suggest reaching out to a Broker. You can absolutely call around to various lending institutions, but it will become extremely confusing and cumbersome as a borrower to navigate through loan programs seemingly to no end. Additionally, when you call a Quicken Loans yourself (for example), you're reaching their retail department vs. If i contact them as a broker on your behalf, I reach their wholesale department. Just as it sounds, better rates going wholesale. 

FHA 203K is a great option, but it is extremely difficult to qualify for. Like, extremely difficult. HOWEVER, if you have the ability to do this, and the patience, you will obtain much better terms than going after a private-money rehab lender. Lower down, less reserves, better rates, better terms, all the good stuff.

yelp is a great tool to vet brokers/ other real estate professionals in your area, I would suggest starting there.