How To Start A Real Estate Empire With Only $12,500
offers federally backed loans to borrowers who have a credit score of 580 or higher and a debt-to-income ratio that’s less than 43%. While most bank loans require a 20% downpayment, FHA loan requirements can be as low as 3.5%. Both first-time homebuyers and investors are eligible if the loan is for their primary home.
, which provides first-time homebuyers with assistance if their income falls below 80% of the median income in their area. Once you’ve acquired your primary home, your next investment property will likely be financed through another bank. This means you need to create a strong financial disposition by earning money on your primary home through refurbishing and then renting out additional living space, maintaining a good credit rating and holding down a steady job.
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