This gives you time to plan your next move, improve your credit, build up a down payment, and Next, the FHA mortgage can be used on property when you agree to owner occupy; if you want to use as investment, then find a plex unit and occupy one unit.  1 to 4 units are still considered residential, while 5 units and up require commercial lending.All the best~

We have both of our cars paid off as well and keep monthly payments uber low on everything from groceries to insurance.      

go to nationwide there cheap and did not pull my credit. most of the time a low score means debt maybe you want to raise it up to a 580 an you will be able to get a fha loan with 3.5% down payment

Also, you should be charging/paying at least 1 thing per month on each card (a pair of socks, pack of gum, whatever) so that your payment history can improve your score over time.

I have an individual that is willing to go in with me and put up the down payment $100,000.  

My mortgage payment with property tax, school tax and insurance puts me at $558 dollars a month.

If you put the property in an LLC sometimes banks prefer a 25% down payment. 

Just heard about BP from a buddy and soaking up as much information as I can.I’m currently looking into Duplexes, Triplexes, and Fourplexes in the Niagara to Hamilton region in Ontario.This will be my first home and I’m looking to purchase it as a rental property.I’d like to be able to take advantage of the cheaper down payment by occupying a unit.

The management company indicated that 35% was a good rule of thumb for expenses but that seems way too low after reading many posts about the 50% rule.Financing - a 10% downpayment on an FHA loan, with 4.75% interest, and $268 of PMI each month for 132 payments.

My biggest mistake was failing to account of deferred maintenance in my "down payment".