Seminars are very, very valuable...Just ask the person collecting your debit/credit card number to sign you up for the program.

Basically, keep this $20k separate from all other money and show that it was specifically applied to the closing or rehab on the new property.                   

It's really about larger commercial properties but I think a lot of it applies to smaller multi-family.

Hello everyone I am also new and was wanting to know if I could get a mortgage loan with a credit score in the upper 500s I'm self-employed first time buyer does anyone  know if I would qualify I would rather do L/O than wholesales the wholesaling thing u need to know people u can sell to quick or if u know how long it takes to build a score thank you 

Most buyers with strong credit end up with better loan terms through the conventional program. 

If you take out a private mortgage against a rental property does that mortgage show up when you apply for a mortgage will a lender?

He does not have great credit but he has 20% to put down.

BTW someone willing to pay rent above market rate is a high risk renter for some reason--felonies, past evictions, bankruptcy, poor credit, no or not enough income, or way toooo many people, or history of damage, professional scammer, etc.The landlord would not even be holding the lease to evict the folks you rent to, not have their deposit for damages, or any relationship with the tenants to recover damages in court as the tenants lease is with you.  

Must have references that are positive, employer that is positive (or verifiable consistent income), 1st last and security, and complete background and credit check. 

How should this impact the HUD as far as credits to the buyer, etc?