Fha approval process

1 Reply

I do not have a college degree but I recently learned i love real estate and decided this is what i want to do im 22 never bought a home the first problem i have is that i did not claim any income last year i worked for cash in construction. If possible id love to to do a no money down deal or at least get a fha loan along with a mshda (seperate intrest free) which they will give me $7500 for downpayment and im ideally wanting a two unit rental property. I work a low paying job how can i increase my buying power to qualify for the maximum fha loan as well the mshda loan. I need to get approver of a mortgage of id like 180k if anyone has any tips on ways to increase buying power. And has anyone in michigan been through this process before? And also how would i go about im starting a new job and resolving current legal matters also any info on refinancing a fha loan to reduce interest and get rid of pmi? I would also love a mentor im very new to this.

Welcome to Biggerpockets!! Nice to meet you!! Hope for the best for you going forward! Unless you run across an owner finance situation,  I believe you need to plan to solve your situation.  What I read was your roadmap,  but it needs a plan of action.  Work towards better job and saving money. Increase your credit worthiness.  Good luck!!

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