All Forum Posts by: Jeremiah Miller

@Brian Gibbons

Thanks Brian, it made sense in my head, but didn't know how it would play out in real life. I appreciate your reply. Doing anything illegal is the last thing I want to do.

Hello BP users, hope you all are having a good Labor Day weekend. I have a question concerning low money down creative financing. I'm not incredibly new to BP, but I still haven't pulled the trigger to invest yet, because I want to be well educated instead of jumping in over my head right away. Anyway, I wanted to know if I could use a partner who would live in the property to qualify for an FHA loan, and then I would supply the down payment of 3%. It makes sense to me, but sometimes there are not so well known rules that would prohibit this. Thanks!

Hello BP users, hope you all are having a good Labor Day weekend. I have a question concerning low money down creative financing. I'm not incredibly new to BP, but I still haven't pulled the trigger to invest yet, because I want to be well educated instead of jumping in over my head right away. Anyway, I wanted to know if I could use a partner who would live in the property to qualify for an FHA loan, and then I would supply the down payment of 3%. It makes sense to me, but sometimes there are not so well known rules that would prohibit this. Thanks!

@Jerry Padilla  you may have answered the question I just asked with your previous post, but I didn't quite understand your phrasing. 

Thanks for asking this question. I was just thinking about this today as I listened to Podcast #92 No and Low Money Down. Would someone still qualify for the 3.5% down payment if their co-signer was not blood related?

I realized that banks may list these on their own websites. Please disregard the the question I just asked about average loan repayment time.

Is there a common or average loan repayment time frame? I've read 4 years and 10 years. Is that something that I would negotiate at the time of the loan?

Thank you all for your answers. You have given me a lot to think about. 

Hello, I'm just getting started in real estate. I'm learning ways that I can hopefully buy or make a large down payment on my first rental property. A home equity loan or HELOC seem to be my best options right now. Although I've found many great resources on BP to explain how to obtain a home equity loan or HELOC, I have not been able to find information on the repayment process. Could any one explain this to me or post a link to a helpful BP post? Thanks.

Thank you for the information David. I hope to attend one of these meetings soon.