939: BiggerNews: 100% Financing for First-Time Home Buyers is HERE w/Jeff Welgan

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 19 April 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

If you’re a first-time home buyer, now may be one of the best times to get a loan in recent history, according to mortgage advisor Jeff Welgan. With new no-money-down mortgages coming out specifically to help first-time home buyers finally get into a property, you can now buy a house for no money out of pocket, with your entire purchase price and closing costs covered. These 100% financeable loans aren’t a secret, so why don’t most first-time home buyers know about them? In this BiggerNews, we’re diving deep into the best first-time home buyer loans available in 2024, how to pick up your first property for NO MONEY out of pocket, and low-money-down multifamily deals any brand new investor can start buying today. With affordability at nearly forty-year lows, most Americans struggle to save up a down payment, even if they have enough income to qualify for a home loan. This is where 100% financeable loans come in, making it easier than ever to buy your first home. So, who can get approved for these first-time home buyer mortgages, where do you find them, and how do they work? Jeff goes through these programs on the federal and state levels, showing first-time home buyers where to find them, which loans to avoid, and whether or not they can use these loans to buy their next property. Thank you to our sponsor, Rent App: the free and easy way to collect rent. In This Episode We Cover: How to get 100% financing on your first property (no money down!) Who qualifies for these first-time home buyer loans, and which properties require a down payment The problem with FHA loans and where you should/shouldn’t use them Rate buydowns and why this once valuable tool is no longer being used How to invest in small multifamily with VERY little money down And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Join BiggerPockets for FREE Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Expand Your Investing Knowledge With the BiggerPockets Books Be a Guest on the BiggerPockets Podcast Ask David Your Real Estate Investing Question Dave's BiggerPockets Profile Dave's Instagram BiggerPockets' Instagram Hear Dave on The “On the Market” Podcast Watch Dave on the “On The Market” YouTube Channel Grab the “First-Time Home Buyer” Book from BiggerPockets 4 Popular Mortgage Programs for First-Time Home Buyers Connect with Jeff: Jeff's Instagram Jeff's LinkedIn Jeff's Website (00:00) Intro (01:12) 100% Financing For Your FIRST Home? (06:28) How These Loans Work (11:40) The Problem with FHA Loans? (14:35) Getting a Lower Mortgage Rate (25:30) Low Money Down Multifamily Investing Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-939 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Funding and finding quality deals are the two biggest hurdles that investors have to jump through.
0:05.0	And this is true for all investors, but it can be particularly challenging if you're a first time investor or a first time homebuyer trying to get your first deal. So today we're actually going to dive into this and cover the
0:17.3	funding piece for you and how you may actually have more options to fund your deals than you think.
0:23.2	Hey everyone, my name is Dave Meyer,
0:24.9	and today we have a bigger news episode for you.
0:27.8	We're going to be bringing on a lender named Jeff Wellgan,
0:30.5	who specializes in working with investors, and specifically for. We're going to be
0:34.0	specifically first-time investors.
0:36.0	We're going to be covering and discussing with Jeff
0:39.0	how first-time homebuyer programs can help you
0:42.0	get assistance with your down payment and
0:44.4	actually means that you can have less cash out of pocket for your first deal.
0:49.0	We're also going to discuss how to navigate market conditions as a new investor.
0:54.0	Super excited to bring on Jeff, but before we do, I just wanted to thank our sponsor.
1:01.0	Our bigger news episode today is brought to you by the Rent app, the free and easy way to collect
1:06.0	rent. If you want to learn more, just go to Rent. App slash landlord.
1:11.1	All right, let's bring on Jeff.
1:12.9	Jeff Wellgan, welcome to the BiggerPockets podcast.
1:15.2	Thanks for being here.
1:16.1	Yeah, thank you for having me, Dave.
1:17.5	Can you start by just telling us a little about the most common hurdles
1:21.7	that homebuyers or first-time investors are facing right now?
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.