If you’re a first-time home buyer, now may be one of the best times to get a loan in recent history, according to mortgage advisor Jeff Welgan. With new no-money-down mortgages coming out specifically to help first-time home buyers finally get into a property, you can now buy a house for no money out of pocket, with your entire purchase price and closing costs covered. These 100% financeable loans aren’t a secret, so why don’t most first-time home buyers know about them?
In this BiggerNews, we’re diving deep into the best first-time home buyer loans available in 2024, how to pick up your first property for NO MONEY out of pocket, and low-money-down multifamily deals any brand new investor can start buying today. With affordability at nearly forty-year lows, most Americans struggle to save up a down payment, even if they have enough income to qualify for a home loan. This is where 100% financeable loans come in, making it easier than ever to buy your first home.
So, who can get approved for these first-time home buyer mortgages, where do you find them, and how do they work? Jeff goes through these programs on the federal and state levels, showing first-time home buyers where to find them, which loans to avoid, and whether or not they can use these loans to buy their next property.
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In This Episode We Cover
How to get 100% financing on your first property (no money down!)
Who qualifies for these first-time home buyer loans, and which properties require a down payment
The problem with FHA loans and where you should/shouldn’t use them
Rate buydowns and why this once valuable tool is no longer being used
How to invest in small multifamily with VERY little money down
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-939
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