Fannie Mae Home - Start Out

[Latravis Brazil]

Good Morning everyone, I have a question. So I have been working for the government for 5 years. I make a pretty decent salary (nothing exciting). I haven't purchased a home since I been working. So I see a Fannie Mae property back in my hometown (Alabama) for 26k. I am able to get a mortgage loan for 10 years with 4% interest to acquire the house. My thing is that I may use it for my first home then possible rent it. Do you think this maybe a good route to go. The monthly payment should come to $325. Basically a car note. I don't have a car payment and basically try to live a little frugal. What you think?

[Andy Robison]

Hold up and slow down the train. You are looking at a house you want to purchase as an owner occupied and not actually owner occupy it? That's fraud. Pure and simple. Don't do that.