cover of episode Real Estate Financing Hacks with Dave Meyer, Head of Real Estate Investing & Podcast Host at BiggerPockets

Real Estate Financing Hacks with Dave Meyer, Head of Real Estate Investing & Podcast Host at BiggerPockets

2024/8/28
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Money Rehab with Nicole Lapin

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FHA loans are government-backed mortgages with lower interest rates and down payment requirements, designed for primary residences. While beneficial for those unable to afford a 20% down payment, buyers should be aware of PMI (private mortgage insurance), additional fees when down payments are less than 20%, and property requirements that must be met.
  • FHA loans are for primary residences, not investment properties.
  • Down payments can be as low as 3.5%.
  • PMI increases monthly payments if the down payment is under 20%.
  • FHA loans may have stricter property requirements than conventional loans.

Shownotes Transcript

There are a whole lot of options for financing when you’re buying a house, but not all options are created equal. So today, Nicole talks to Dave Meyer (Head of Real Estate Investing & Podcast Host at BiggerPockets), about five real estate moves that get billed as savvy ways to make homeownership more affordable: FHA Loans, Seller Financing, Foreclosed Homes, HELOCs and DSCRs. Nicole and Dave first decode those terms and then they talk through whether these moves really are as savvy as they seem, and what to be wary of if you pursue one of these strategies.