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

BiggerPockets Real Estate Podcast

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 [e-mail].

Learn more about your ad choices. Visit megaphone.fm/adchoices