All Forum Posts by: Marky Suazo

Hi all:

I'm a first-time home buyer in the market for a small multifamily . Ive been looking into using the FHA loan, or something similar in order to take advantage of the low down payment. However, years of paying PMI make this option somewhat less attractive. Is it possible to avoid PMI if I place a downpayment of 10% or less? Or, alternatively, to get out of the PMI after a few years?

@Terence Eng Thank you!  I appreciate the referral. Also, are you planning on house hacking your property, or using renting out the entire unit?
 

Hi Terry!

Your story is very similar to mine. My girlfriend and I are also JC residents and looking to invest in our first multi-family in the Hudson County area. We are currently searching for a lender and real estate agent to work with. We toured the Bayonne are and really liked it. Have you come across any 3+ family homes in that area? We didn't find much. 

@Harjeet Bhatti I wasn't sure that I'd be able to get a conventional loan with a low down payment. I assumed FHA was the most viable option to keep my down payment below 5%. Which loan type has a higher rate?

Hi Everyone:

I am currently looking for a creative mortgage broker that works in Northern New Jersey. My girlfriend and I are first-time home buyers looking for a multi-family home. Does anyone have any recommendations for a lender that would be willing to sit down and talk us through the financing process?

@Account Closed I would really appreciate that! Thank you.

@Harjeet Bhatti I currently bank with B of A and my girlfriend banks with Chase. Ive been with Bank of america for over 10 years. My gf has had chase for about 5. We both have 750+ credit scores. We're looking to utilize an FHA loan.

@James Wise Thank you for the advice, James. How do I set up a NJ keyword alert?

Hi everyone:

My girlfriend and I are first-time home buyers looking to purchase a multi-family home. We're looking to use an FHA loan to take advantage of the low down payment. We're in the process of finding a real-estate agent. Is there a rule of thumb for how many you should interview and what to ask? We've interviewed two so far. Also, would anyone have any tips or advice for finding a mortgage lender? I was told a great agent will have a list of lenders that he or she typically works with. Any advice would be greatly appreciated. Thank you!

Hi everyone:

my girlfriend and I are first-time home-buyers interested in purchasing a multi-family home. We are currently looking for a good real- estate agent to work with. We are also for a mortgage lender to work with. Ideally, I would like to use an FHA loan in order to take a advantage of the low down payment. I came across biggerpockets while researching real-estate investing. Would anyone be able to provide some insight as to finding a good mortgage lender to work with? I was told that a good agent should have a list of people that he or she works with. We currently live in Jersey City and are looking to stay in the area. Any tips, advice, or insight would be greatly appreciated. Thank you!