Beginning investing and potential effect on FHA approval

3 Replies

Hello biggerpockets member! Can getting involved in real estate, an a newbie investor, effect the opportunity to eventually obtain an FHA loan down to road??

I know the program is for first time home owners who must live in the home for a year but I wanted to know what else I should be aware of. Thank you!!

@Gabriel P.  The only restriction (at lease for now) is that you can only have 1 (one) FHA loan at any given time. And Yes it needs to be OO. You can get a FHA loan at any time and can close one out and get an another one.

Upen Patel, Mortgage Banker

Federal NMLS# 1374243
Upen Patel, Lender in (#National Lender NMLS 1374243)
(571) 331-5161
Originally posted by @Gabriel P. :

I know the program is for first time home owners who must live in the home for a year but I wanted to know what else I should be aware of. Thank you!!

To clarify, it is not for first time home owners, but you must live in it for one year. You could buy properties, then down the road use an FHA loan to buy another and live in.

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