Financing provided through this program is only available for properties located in Michigan or Florida.Available Product Type: SOFR 7/6 ARM, SOFR 10/6 ARMLoan Amount: $766,550 MaximumLTV: Purchase and No Cash Out Refinance - Maximum 99%Prepayment Penalty: NoneLoan Assumption: NoneEligible Properties: 1-unit dwellings, attached and detached condominiums, PUDsEscrow: An escrow account must be established for property taxes, and flood insurance, if requiredUnderwritingNo Private Mortgage InsuranceOccupancy – Primary residencesMinimum Credit Score - 700DTI – Max 43% (UW/Mgmt exceptions up to 50% with minimum 3 documented compensating factors)Student Loans – If in deferment, no qualifying payment requiredDown payment of 1% must be borrower’s own funds, while closing costs and prepaids may be gift fundsAttached condominiums require a 10% down paymentEligible Borrowers – Protect and serve heroes are defined as employees of public or private education institutions, employees of medical and healthcare organizations, all first responders, and active or former military personnel.Servicing: Retained

Yes, you will need a cash or PML to buy the house, but it is true of any real estate transaction with the exception of wholesaling. 

Every bedroom with exception of the $1095 one got rented the first week.

@Keaton Sheffert In my town there is a very specific set of criteria for getting either a Special Exception or a Variance for a proposed change to the zoning.

Your pay is more likely to be salary than a percentage (except for the REALLY big stuff).

The good thing is the duplex is worth almost double what we built it for and we have had good tenants on both sides ($185,000 rental income so far) except for the bed bug lady so everything has worked out ok. 

That’s in general of course - exceptions to every rule and all that.

I told the manager I've managed a portfolio of short-term rentals and that my previous landlord allowed me to do it and loved that it created an incentive for me to take exceptional care of the property.

This is standard practice, but there are exceptions.

We have an exceptional reputation that we have worked very hard to achieve.