Let's go over FIVE of my favorite low down payment and no down payment programs and what I used to buy my first triplex, so you can get your first or next home in 2020. Follow me on social media
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DISCLAIMER: This is not financial advice. The views and opinions expressed herein are those of the author and do not necessarily reflect the legitimacy of these programs and or companies. Do your own research and come to your own conclusion. I am not a CPA, lender, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, or financial advice.For entertainment purposes only!
Number 5: Chase DreaMaker Mortgage
Great option that allows you to use in combo with $2,500 Chase Homebuyer grant
Number 4: Choice Renovation
Handy? Check this option out which allows you to finance renovations up to 75% of a homes value after being repaired. May also face less competition since you will be looking at properties that may need some work.
Number 3: FHA
Low credit score requirements (580) for those still working on establishing or rebuilding their credit. Only required to live in the house for 1 year before moving out of that unit and possibly renting it out.
Number 4: Your Path Mortgage Program
Allows you to get into a single family with as little as 3% down. The ability to use income from non borrower household members to help the borrowers DTI and possibly secure a larger mortgage AND they do NOT have to be co-borrowers and do NOT own the home. There is a caveat though.
Number 5: NACA
No down payment, no closing costs, no points or fees, no credit score consideration BUT that does come with a catch.
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