All Forum Posts by: Christopher Murphy

Hi All,

I am currently sending in offers for my first house hack. A condo in my area came up at a great price and location. Listing agent said there are cash buyers with offers well over list price. I am a preapproved buyer with no contingencies, can close ASAP. I want to know how influential of a factor that is for sellers and if there is anything else I can provide to compete with cash buyers that might be in at a higher price point than me. Any recommendations are very much welcome. Showing and offer deadline is tonight!

Thank you! 

Thank you, Matthew. Can you tell me which lender it is, I have received a few emails, want to identify which to prioritize.

Thank you, Wale. I am coming to discover this. I am currently pre approved at 5% and have been analyzing deals with this figure. I appreciate the feedback.

Thank you! Will do

Thank you, Andrew. Yes, found out my lender agent was....bad. He gave me a preapproval with TN tax and rate estimates as that is where he is based out of. Inexcuseable. I am now working with a local representative of the same lender, but now also exploring other lenders. I see that you are a lender, could we chat about a quote and the possible application of these programs?

Thank you for this feedback JD. Will definitely consider all this. Honored to be the response of your first post!

Hi All,

I have been exploring for the past couple months and recently came across some first time home buyer programs that I think I need to take advantage of. I am scrambling to find more information as there is one deal in particular that I am hoping to put an offer on over my purchase price allowance.

I am eligible for DPA and MCC. I currently am approved up to $240K 5% conventional and $235K FHA. However, a lot of the cash flows in my area are at a $250K purchase price. Instead of covering the 10K-15K difference out of pocket, I would like to take advantage of these programs as a househack for ideally 1-2 years. I understand the MCC increases in effectiveness overtime to the 5-year mark, and other details about the DPA, but would love anyone who has used or researched these programs feedback.

ALSO, I am seeing this program with BoA up to $17,500 in first time home buyer assistance? I am calling in the AM, but would love feedback to others with knowledge and experience about any of these or other programs I should look into. Thank you!

Best,

Chris

Hi All,

I have been exploring for the past couple months and recently came across some first time home buyer programs that I think I need to take advantage of. I am scrambling to find more information as there is one deal in particular that I am hoping to put an offer on over my purchase price allowance.

I am eligible for DPA and MCC. I currently am approved up to $240K 5% conventional and $235K FHA. However, a lot of the cash flows in my area are at a $250K purchase price. Instead of covering the 10K-15K difference out of pocket, I would like to take advantage of these programs as a househack for ideally 1-2 years. I understand the MCC increases in effectiveness overtime to the 5-year mark, and other details about the DPA, but would love anyone who has used or researched these programs feedback.

ALSO, I am seeing this program with BoA up to $17,500 in first time home buyer assistance? I am calling in the AM, but would love feedback to others with knowledge and experience about any of these or other programs I should look into. Thank you!

Best,

Chris

Definitely sympathize with the internal struggle. Of course, lead with your heart and consider logical factors. In general, I am a big believer in traditional university to not be worth the ROI, particularly if you are not all-in on your path. If you do decide to not follow through with schooling, I would emphasize the importance of having a in-depth plan of your next steps and willingness to work diligently to find your niche for your career. It sounds like real estate could be that, but I would take more steps before making a big decision like that. For now, I would recommend sticking it out at community college (particularly if this will lead to an associates degree), and using any spare time you have to educate yourself on other interests like real estate that would be professional avenues should you choose not to pursue bachelor's. Hope this helps. Pray on it!

Hi All,

I have been exploring for the past couple months and recently came across some first time home buyer programs that I think I need to take advantage of. I am scrambling to find more information as there is one deal in particular that I am hoping to put an offer on over my purchase price allowance.

I am eligible for DPA and MCC. I currently am approved up to $240K 5% conventional and $235K FHA. However, a lot of the cash flows in my area are at a $250K purchase price. Instead of covering the 10K-15K difference out of pocket, I would like to take advantage of these programs as a househack for ideally 1-2 years. I understand the MCC increases in effectiveness overtime to the 5-year mark, and other details about the DPA, but would love anyone who has used or researched these programs feedback.

ALSO, I am seeing this program with BoA up to $17,500 in first time home buyer assistance? I am calling in the AM, but would love feedback to others with knowledge and experience about any of these or other programs I should look into. Thank you!

Best,

Chris