In real estate a verbal agreement is not enough.  Before we can approve you for any type of funding you must have a signed contract.  Without having a signed contract the owner could go with another investor or backout of the deal altogether.  

Homes above the FHA cap are statistically more likely to experience drastic fluctuations in value and can be more susceptible to local and overall market depreciation. Homes in the 5-point realm tend to be more resilient to these influences.  We can not allow the owner to remain in the property.

FHA loans bring home ownership into reach for first-time home buyers who might have a hard time getting approved with conventional lenders. This increases your ability to sell your property faster and broadens your ability to attract more potential buyers.

Millennials and Boomers are the two segments expected to dominate the market in the next five years. Both of these segments are looking at smaller houses.  Millennials because they’re just starting out; Boomers because they’re downsizing. These days, buyers of all ages are looking for smaller houses.  No more than 2800 sqft.  No more than 5 beds/3 baths.  Because of the economy people aren’t having as large families now adays, so bigger houses are harder to sell.

Both Millennials and Boomers are looking for less upkeep.   Boomers because they’re getting older and Millennials because they’re just starting out.  More acreage also means more expense.  So NO more than 1/2 acre.

If you’ve closed 4  previous deals with COGO or 8 deals outside of COGO with proof of HUD statement showing closed or have a credit score of 680+ and a 20% down payment than that will trump our lending criteria.