Hey everyone, hopefully I'm in the write forum. I don't have much cash, but I want to get into a fourplex. So i figured an Fha loan would be my best option. But here in NJ, where I currently live and am planning to buy the property in, has Njhmfa assistance program that I was interested in. My question is, am I able to combine the two? If not, it's there any other programs that assist in down-payment help that I can combine with an Fha loan? Thanks in advance..
Real Estate Agent · South Jersey · Member since 2017 · 252 posts · 143 votes
7y
@jose
@Jose Nunez this is some great stuff. Looking forward to seeing this pan out on a multi family. There are also other grant programs, such as through various counties, but with many of these you might be hitting income or purchase price limits. Be sure to work with a lender that not only does these loans but does them really well.
Thank you so much Steven... I searched through but couldn't find anything. But the information that you provided gave me exactly what I needed and hoped for.....
Lender · NJ NY PA CT GA FL, Puerto Rico · Member since 2015 · 212 posts · 111 votes
7y
@Jose Nunez Hello Jose, pleasure to meet you. Yes you can combine those, we work closely with NJMFHA. We also have a subsidy program as well that we combine with NJMFHA to purchase 2-4 family properties and single family. However you cannot do 203k with NJMFHA but you can utilize out subsidy with 203k.
Real Estate Agent · South Jersey · Member since 2017 · 252 posts · 143 votes
7y
@jose
@Jose Nunez this is some great stuff. Looking forward to seeing this pan out on a multi family. There are also other grant programs, such as through various counties, but with many of these you might be hitting income or purchase price limits. Be sure to work with a lender that not only does these loans but does them really well.