He qualifies for the 1 million dollar purchase, and the property will meet any DSCR requirements.

Hey Frank, The 40-year interest-only (IO) option serves those seeking increased cash flow or aiming to qualify a property for a debt service coverage ratio (DSCR) if the principal and interest payment isn't viable.

It's not just access to the downpayment, it's about whether you can qualify at 18 for any loan, much less an FHA loan.

As a landlord, you should never be "choosing" an applicant as they roll in, they either qualify or they do not. 

Would we not qualify for a 55k loan? 

The trip charge is what they pay the vendor qualified for warranty work, and it's usually 1/2 what that vendor would charge for a normal job, so there's little motivation for them to respond quickly or work hard.5.

I assume you are referring to 3.5% and 5% down,Well the 96.5% LTV FHA Product is great, it typically offers more competitive rates than the 95% LTV Conventional product.However there are stricter requirements on the property for an FHA product.Speak with a broker who knows what they are doing and they will point you in the right direction.Neither of these products will qualify for 5+ Units however, stick to 1-4 units.

Pretty simple for me - are you or the property traditionally qualified or not.

Applicant understands that landlord may accept multiple applications for this rental unit and retains sole discretion to select the most qualified applicant.

I would buy as many seller finance deals via non qualified assumptions as possible.