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Let Someone Else Pay Your Mortgage!

September 7th, 2021 12:53 PM by DANIEL POULOS

I'm surprised more people don't buy 1-4 unit properties.
 
     Why wouldn't a first time homebuyer look for a duplex-fourplex, live in one of the units and let the other tenants pay for his mortgage, especially when you can use an FHA loan with just 3.5% down?

     For example, let's say you live in a county with an FHA loan limit of $515.250 for a 2-unit property.  You can put as little as 3.5% down, live in one of the units and collect rent from a tenant of the other unit.  You can even use the projected rent from the other unit as income to assist in qualifying!

    What better way for a first time homebuyer to begin building wealth through real estate?

Conventional loans also allow for 1-4 unit properties but the required down payment runs from 15-25%.

     I think this would be a more popular buying strategy if more buyers and real estate agents were familiar with it!  If you want to learn more please call Danny Poulos direct at 561-373-4149 and I will gladly walk you through it!

      


Posted by DANIEL POULOS on September 7th, 2021 12:53 PM

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