Have you heard of Down Payment Assistance (DPA)
I know we are all looking for creatives ways to get into a home and have more units under our belts. That said, if you have a job and a $1,000... why don't we use a DPA program? Using a DPA program mixed with a FHA loan can be a winning strategy for those looking to buy a home, live in it for a year and then rent the property out afterwards!
Here is a story for my most recent buyer! He just closed on his first $400,000 home in CO, and he paid ONLY $1,000 at closing! Oh, and he is only 20!
He has two roommates that will be paying the mortgage on top of that and had his closing costs completely covered from our teams professional negotiations!
He literally paid $1,000 at the closing table for a home and had everything else covered! This is typically easier than the other forms of creative financing and happens quite often.
I'm curious, would you use this strategy in your investing career?
