Will a license interfere with a FHA loan?

Question

Hi all,

I've been researching a few different options to start off my portfolio. I eventually came down to the decision of using a FHA loan to obtain a 2-4 unit(3) building. I have also considered going to get my real estate license (just for experience, knowledge, and the future possibility of becoming a part time assistant because a class starts soon that I would take) but I was wondering if that would interfere with me getting a property under a FHA loan. I feel like I saw a post in which someone described that sometimes banks will look down or deny people with a license when trying to get an investment property put in their own name. This may be an amateur questions but it popped up in my head. Any thoughts?

Thanks!

Stephen Durante · Answer

Ah I see where my confusion might have come from. Thank you guys for all the help, your responses are much appreciated. Now that this is cleared up guess I'm on my way to obtaining a license!

Shaun Weekes · Answer

@Stephen  Durante

Having a license won't hurt your chances at all in regards to getting a loan guaranteed by FHA. If you have any more questions just ask as this site is a great wealth of knowledge.

Now FHA does require 24 months of work history or school so make sure that you don't quit your day job just yet!

Wayne Brooks · Answer

No effect.  Only comes into play when you're acting as a buyer on a short sale, or some REO's, and trying to also collect the buyer agent commission.

Mark F. · Answer

@Stephen  Durante

Hi Stephen, I don't see any reason why just getting a real estate license would be an issue. There's really no reason to bring it up in the conversation you have with your loan officer unless a good part of your qualifying income relies on that license.