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Jimmy Ready
  • Putnam Valley, NY
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FHA Loan Basics on first Investment

Jimmy Ready
  • Putnam Valley, NY
Posted Mar 17 2018, 08:52

Hey everyone,

Currently looking at my first investment property. Looking to do a live in flip/ house hack. Numbers are all checking out on the property. Im just in the process of comparing the advantages and disadvantages of an FHA vs 30yr fixed mortgage. I know FHA has a much lower downpayment than a typical loan but that comes with some guidelines.

Where could I find out more about these? 

I know so far is that 1) you need to live in the home for at least 1 year and 2) all the work must be done by a licensed contractor. 

Any specific forums on this or anywhere I could learn up fast?

Thanks 

Jimmy

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