I've got to get my DTI income down after my last closing, but am in the same boat exploring other mortgage lending products. 

More importantly, I wanted to find a way to reconnect my past experience in sports and entertainment to the real estate market. 

There's always a pro/con list to everything but FHA loans are a great loan product to consider BUT they are not the only "first time homebuyer" loans out there.  

Try to not only stay productive but also efficient. what i mean by that is dont focus to much on the crap that doesn't get you anywhere.  

FNMA HomeStyle is a renovation product that is investor friendly for SFRs.Post-closing, the funds are disbursed to your contractors as the work is completed and confirmed to be up to both the standards of the loan program, and your standards. 

Hi @Mark MatosIt depends on the sales price of the final product, and that depends on where exactly the lot is. 21 units on 5 acres is really low density, so it would also depend on the neighborhood plan and whether you can rezone it.

FHA does allow 3.5% on their renovation product (that product is a little challenging) and the conventional reno loan is 5% on a Single-Family home.  

Properties listed for sale in the six months preceding the disbursement date of the new mortgage loan are limited to 70% LTV, CLTV, and HCLTV ratios (or less if mandated by the specific product, occupancy, or property type – for example, 65% for manufactured homes)"... https://www.fanniemae.com/content/guide/selling/b2...Is the higher 75% LTV ratios that you mentioned only referring to SEASONED (SFR) refis?

I know interest on a car loan is relatively cheap (assuming your credit is decent) and that HELOC is a variable product.

The finished product will be to sell retail.