And offset the previous FHA loan payment showing that you're making the payments for it so it lowers his DTI.

Simply gifting him half the property now wouldn’t immediately allow him to claim the exclusion without fulfilling this residency requirement, I don't believe.One thought would be to use a HELOC to pull just enough equity out of the current home and use it to buy a smaller home, or at least the down payment.

where is see a total cluster with Morby students is they are now selling their car's sub too.. can just see it.. sell a car to someone on facebook with the promise they will pay our payments ..

I think it was for down payment and closing costs.

My plan was to keep the condo as my residence, but after a year, refinance to fund a down payment on a multi-family property, either out of state or in the surrounding NY area.

Sounds a lot like this that I hear from dead beats all the time “ I was going to pay you but now that you demanded payment I’m insulted and not going to pay”.  

Our lease had an early termination clause requiring a one-month payment, but that didn't seem fair to her as she hadn't even moved in.How would you handle a cancellation prior to moving in?

In this case, since they are borrowing their payments, these would get added to the principal balance each month, and interest would be calculated on that.If, for example, the interest rate on the note were 10%, they would implicitly be borrowing their payments at that rate.

You'll likely need a higher down payment if you can find anyone willing to finance something like this as a first time investor; many require some level of rehab experience at the very least.

My client had some things come up that prevented her from executing, but these were some of the options I had put together for her, a regional bank, a regional CU, and a national bank.Reminder that NOI sizes CRE debt, and that's often what determines the down payment requirement, not anything to do with the client or particular lender, just the property itself.