Low down payment loans, FHA vs. conventional comparisons, mortgage insurance, closing costs, and how to use rental income to qualify for a 2-4 unit home.
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If you are buying your first 2-4 unit property, start with the FHA vs. conventional comparison, then read how lenders count rental income toward your approval.
MortgagesWhat a low appraisal does to your loan, the formal reconsideration-of-value process FHA, Fannie Mae, and Freddie Mac now require lenders to offer, appraisal gap clauses, and a decision framework for renegotiating, paying, or walking.
MortgagesThe rules for gift funds on FHA and conventional loans, the gift letter and paper trail lenders require, how non-occupant co-borrowers add qualifying income, and the tax and exit questions to settle before you use either.
MortgagesThe 75% rule for appraiser-estimated rents, what FHA and Fannie Mae actually count, the documentation lenders require, and a worked DTI example showing how rental income turns a decline into an approval.
MortgagesWhy 75% of appraised market rent must cover the full PITIA on FHA-financed triplexes and fourplexes, worked examples at three purchase prices, and the five strategies that turn a failing deal into a passing one.
MortgagesWhat closing actually costs on a 2-4 unit purchase: lender fees, third-party fees, escrow deposits, and prepaid interest, with a $350,000 duplex example, the rules that cap fee increases, and five ways to cut cash to close.
MortgagesHow FHA MIP and conventional PMI are priced, when each one can be removed, the current annual MIP tiers, and a $300,000 loan comparison showing why cancellable insurance is worth thousands.
MortgagesA line-by-line comparison of FHA 203(b) and Conventional 97 loans: down payment, credit scores, mortgage insurance that cancels versus insurance that does not, 2-4 unit eligibility, and the ten-year cost on a $350,000 duplex.