All Forum Posts by: Ashley Sanchez

Okay! Thanks Wayne Brooks for the information! The deciding factor is now to review the particular program and their specifications. Also, if I want to use the program for the DP or not.

Stephanie Irto see comment above

Stephanie Irto so in essence FHA/Conventional loans can or cannot be used the first time home buyers program? I'm in Atlanta so it would be the GA dream or any of the www.investatlanta.com programs. So FHA and the first time home buyer program are separate entities and qualifications? I couldn't combine them?

Charlie Fitzgerald see comment above..😃

If the MFR is zoned as a MFR, Would I be able to purchase a MFR with a first time home buyer program? Does it make a difference with the zoning of the property?

So after receiving everyone advice about using the first time home buyer program and getting an FHA/Conventional loan, I talked to a mortgage banker today and she told me that I would not be able to do it with MFR if the property is zoned as a MFR.. she said the program is meant for SFR. Then I went on to tell that these homes are SFR as long as it's up to 4 units. She said that the property could be a SFR and I rented out the basement. She also told me that I could get a 203k or 201k loan and I could purchase MFR with that I just would not receive DP assistance. 
My dad advised me to stay away from this loan as it can have a lot of headaches between the inspector and the contractor not doing or estimating repairs. Also, he had his A/C stolen right after closing and it has been a headache with him to get the costs taken care of for replacement. Your thoughts or advice?

Cant make the Atlanta area REIA meetings like me due to your work schedule, well lets network here to connect. Calling all Atlanta wholesalers, mortgage bankers, investors, and realtors who want to connect and network with each other and also possibly mentor newbies like me in the home buying process. PM me if have knowledge or experience within Cobb/ Paulding/ Douglas Counties.. Let's connect! Looking forward to meeting and getting to know you all!

So after receiving everyone advice about using the first time home buyer program and getting an FHA/Conventional loan, I talked to a mortgage banker today and she told me that I would not be able to do it with MFR if the property is zoned as a MFR.. she said the program is meant for SFR. Then I went on to tell that these homes are SFR as long as it's up to 4 units. She said that the property could be a SFR and I rented out the basement. She also told me that I could get a 203k or 201k loan and I could purchase MFR with that I just would not receive DP assistance. My dad advised me to stay away from this loan as it can have a lot of headaches between the inspector and the contractor not doing or estimating repairs. Also, he had his A/C stolen right after closing and it has been a headache with him to get the costs taken care of for replacement. Your thoughts or advice?

Cant make the Atlanta area REIA meetings like me due to your work schedule, well lets network here to connect. Calling all Atlanta wholesalers, mortgage bankers, investors, and realtors who want to connect and network with each other and also possibly mentor newbies like me in the home buying process. PM me if have knowledge or experience within Cobb/ Paulding/ Douglas Counties.. Let's connect! Looking forward to meeting and getting to know you all!

Thanks Julian Jackson for your feedback! Point taken and i will keep that perspective in mind😃😃 This is my first time so everything is new and I'm just being cautious😃