Trenton, NJ · Member since 2015 · 9 posts · 1 vote
Hi:
I would like to know how can we buy our first investment property using the FHA my husband's score is not to high but is also not bad is it possible to qualify for a mortgage ? and also were can we go to ask for a loan? thank you by the we love this blog and all the information you post thanks !!!!
I would think the only way is if you buy a duplex through quad, live in one unit and rent the others. If you buy a single family through FHA, you'll need to live in it as owner-occupied for at least a year.
Lynn M. Is correct you would have to live in one unit of a duplex-quad. As for where to go you'll have to call around to banks and see who offers FHA. In my experience I couldn't get one through my credit union but a local bank was able to do it for me. With the credit again you'll have to call your banks and see what they can do to help.
Thank you so much we will try to find the best place and banks to start with our investment there is so much to learn about this thanks again I can wait to some day post : Buying our first investment property!