Saint Louis, MO · Member since 2017 · 16 posts · 4 votes
I had a question on financing for my first couple deals. My goal is to buy and live in a 4 family building. I'd also like to buy a second 4 family in addition to the one I'm looking to live in. This one would be considered an investment property and the other one would be considered my residence. My question is if I buy the investment only property using the typical 25% down on the property, can I still have access to the FHA loan with 3.5% down for my owner-occupied property? Or should I only be looking at owner-occupied properties first in order to get the FHA financing and then start looking at investment only properties?
This question is on timing and if I'd still have access to the special financing if I go with buying an investment only property first. Thanks in advance!
I had a question on financing for my first couple deals. My goal is to buy and live in a 4 family building. I'd also like to buy a second 4 family in addition to the one I'm looking to live in. This one would be considered an investment property and the other one would be considered my residence. My question is if I buy the investment only property using the typical 25% down on the property, can I still have access to the FHA loan with 3.5% down for my owner-occupied property? Or should I only be looking at owner-occupied properties first in order to get the FHA financing and then start looking at investment only properties?
This question is on timing and if I'd still have access to the special financing if I go with buying an investment only property first. Thanks in advance!
Hi Austin,
Already owning a 4 unit investment property is not an automatic deal-breaker for FHA 3.5% down as an owner occ at a later date, no.