If you're willing to have roommates, your options open much more broadly, and you can potentially assume a loan with a low interest rate. 

Multiple people had some bad things to say about the area, but when I moved and realized that it was a low income area with a lot of homeowners, I was motivated to improve the property to match the effort my neighbors have put in. 

These range low 500s to the mid 600s.  

I looked at the rental trend over the past 10 years, I should be fine in year 7 for the refinance unless rates are totally out of this world.Your right those rents would be really low for Stamford. 

Department of Housing and Urban Development (HUD) and Bankrate, the big perks of an FHA home loan are:Lower Down Payments: They typically require a smaller down payment than conventional loans, sometimes as low as 3.5% of the home’s purchase price.Lower Credit Score Requirements: They’re designed to help buyers with credit scores that might not qualify for conventional financing.

The program is designed to assist low-income families, and these benchmarks might exclude a lot of qualified people.That said, the requirement for stable rental and work history is reasonable, but you might consider relaxing the credit score or income requirements since Section 8 guarantees a portion of the rent.

Both of these allow you to low down payment loans to buy a primary residence with fixed interest rates.

We are in a constricted market cycle, low volume, strained budgets, high costs.

The price is about as low as you can go in Southern California.

- My first thought is offering cash, but the home owner would most likely just let it go to foreclosure because of how low the offer would be. - My second thought is offering some cash and taking over the loan - there are no liens on the property yet.