FHA loan

[Sterling Tang]

Hello, I'm a newbie I've been doing lots of research about buying and holding property but there's not a lot of information about FHA loans and investing. I have a "fair" credit score and and do not qualify for a conventional loan since my score is not met but I qualify for 240k FHA loan. I do have significant funds for unforseen future and I was looking into getting a duplex for my first investment property. I'm looking for advice and guidance on FHA and investing.

Thanks

[Jerry Padilla]

for an FHA loan you can purchase up to a four unit property. You should live in the property at least one year. You can qualify with a credit score down to 600. Some banks may possibly go lower. You are only required to have 3.5 percent down and can ask for sellers concessions towards closing costs. I hope this helped.