FHA Loan Qualifications
Hi there,
I am sure this has been covered many times but it is pretty tedious sifting through all the posts to find the right one. I am wondering exactly what the qualifications are when trying to obtain an FHA Loan. I know the minimum down payment is 3.5%, but what is an average interest rate? What is the necessary debt-to-income ratio? How many years of employment do you need to show? What is the seasoning period until I can refinance? How long do I need to live there? Can I get a conventional loan while living there? Can I use a private money or hard money lender while having an FHA Loan? And many more questions.
All information possible, would be fantastic! I have tried to read many articles on FHA loans, but I cannot seem to get a clear cut, all-in-one, in-depth explanation.
I should also probably mention that I my goal is to get an FHA Loan and begin my real estate investing journey.
Thank you!