Finding the Right Home: Beyond the Myths

Before you start browsing listings, take some time to identify your needs and goals. Ask yourself these key questions:

• Household Size: Is it just you, you and a partner, or do you need space for a home office, guests, or a future nursery?
• Location and Lifestyle: Do you need to be near public transportation, in a walkable area, or somewhere more rural? How important are school districts and your commute?
• Home Type: Do you want to maintain a yard or fix a roof? A condo or townhouse might be a better fit, but remember to factor in HOA fees into your loan qualification.
• Prioritized Features: Create a list of must-haves and nice-to-haves (e.g., bedrooms, bathrooms, fenced yard, garage).

Most importantly, know what you can afford first. Falling in love with a home outside your budget can be a major disappointment. Talking with a loan officer early provides a realistic price range and a smart starting point.

There’s a wide variety of homes you can finance, especially with our team by your side. At AAA Capital Funding, we finance:

• Single-family homes
• Townhomes and row homes (villas)
• Condominiums
• 2–4 unit properties (duplexes, triplexes, fourplexes)
• Some manufactured homes

Did you know? You can purchase a multi-unit property (2–4 units) with as little as 3.5% down if you live in one of the units. It’s a great option for building wealth through rental income.

Note on Condos: A property may look like a townhome but legally be a condo. That distinction matters for financing, and we’ll help you determine the correct property type to ensure you get the right loan.

Many buyers shy away from fixer-uppers. But with the right loan program, you can buy and renovate with a single mortgage. We offer two powerful FHA 203(k) renovation loan options:

FHA Standard 203(k) – For Major Renovations

• Allows structural repairs, additions, and significant upgrades.
• Based on the future appraised value after improvements.
• Requires a minimum of $5,000 in renovations and a HUD-approved 203(k) consultant.

FHA Limited 203(k) – For Minor Repairs

• Up to $35,000 in renovation costs.
• Great for non-structural upgrades like flooring, appliances, painting, or patio repairs.