Atlanta, GA · Member since 2018 · 1 post · 0 votes
If I were to buy a home to rent out but I don't have a ton of money up front, would credit be needed to buy that home and get approved for a FHA loan for a low down payment? If yes, how do I get credit? I am a 19-year-old who has never had credit. What is the best way to start to get credit? Thanks!
Investor · Saint Louis, MO · Member since 2016 · 970 posts · 1k+ votes
8y
You can literally google all those questions yourself.
but in any loan (commercial, residential, business, etc, etc) , you will need to have credit. Get a credit card, get a car loan, and start paying those monthly payments.
you have a ways to go before you purchase your first property.
FHA loans are for owner-occupied properties only. So unless you're looking at living in the house (or one of the units in a multifamily property), this is not an option for you.