Are you a first-time homebuyer, an investor, or someone planning to sell and buy simultaneously? In this video, Eddy Foster from Lonestar Home Mortgage breaks down the wide variety of loan programs available and helps you determine which option might be best for your needs. From standard programs like FHA, VA, and conventional loans to more creative options for self-employed buyers, Eddy explains it all in simple terms.

If you’re wondering how much money you’ll need to bring to the closing table as a first-time buyer, we’ve got you covered! Discover why the idea that you must have a 20% down payment is a myth and learn about affordable options like FHA loans requiring only 3.5% down or 100% VA loans. For investors, Eddy introduces innovative programs like the Debt Service Coverage Ratio (DSCR) loan, which uses rental income to help you qualify. There’s even a discussion on the return of stated income loans and how they’ve evolved since 2008.

Eddy also addresses the unique challenges of buying and selling at the same time, including qualifying factors, leasing departing residences, and how to choose the right loan program based on your financial profile. Whether you’re a buyer or an agent, this video offers invaluable insights to help you navigate the mortgage process with confidence.

Got questions? Drop them in the comments below, and Eddy will be happy to help. Don’t forget to like, subscribe, and share to stay updated on the latest tips and trends in real estate and mortgages!