Looking for investor friendly realtor and FHA/USDA experienced lender - HTX area

[Eric Haque]

Hey everyone!

I'm in the Houston area (Med Center South to be exact) and I'm looking for an investor friendly realtor and/or lender experienced in assuming mortgages particularly FHA/USDA loans. Currently browsing (not pre-approved yet) and looking to purchase by the end of the year or end of Q1 2024.

Please feel free to reach out or send over any recommendations. Would also love to connect with our RE investors in the HTX area.

Thanks in advance

[Melissa Bryan]

Eric, I am an experienced FHA/USDA lender familiar with loan assumptions, and I hate to be the bearer of bad news, but assumptions are not available for investors. Per FHA: "private investors are prohibited from assuming insured mortgages that are subject to the restrictions of the 1989 act. This restriction applies whether or not there is a release from liability by the lender of the selling mortgagor." Essentially, the assuming party will need to qualify for the mortgage and any government loan (USDA/FHA/VA) cannot be used to fund investment property, as the purpose the government intended the loans for was to expand homeownership to Americans who would not otherwise have access to mortgage financing for a primary residence. BUT! I work with a lot of investors and self-employed people and am happy to help you get financing for an investment property, or finance your end buyer with an FHA or USDA loan. https://melissabryan.vandykmortgage.com