Updated almost 3 years ago on . Most recent reply
FHA Loan Help
Hey everyone,
I'm seeking advice regarding FHA Construction Loans. I'm potentially interested in building a multifamily (duplex) property on a piece of land that I would acquire through a single loan. I'm also considering the 203k FHA loan, but I've been having trouble finding properties that meet the 1% rental rule or average repair value that would allow me to refinance. I'm not scratching the idea of a 203k loan but now curious about an FHA construction loan. Just broadening my options and trying to get creative to acquire my first multifamily property.
I'm looking to do this in Nashville due to me recently visiting and loving the city. I'm hoping to get connected with a reliable and experienced builder who can help answer questions and/or buld the property. I was wondering if anyone had any recommendations for finding a good builder in the Nashville area? Also, has anyone had any experience with FHA Construction Loans and could provide any insights or tips?
Any feedback or suggestions would be greatly appreciated. Thank you in advance!