Updated over 7 years ago on . Most recent reply
FHA Loan vs Conventional on first property
My cousin and I are looking at our first property, he's 21 and I'm 23 so we're new to this thing, we want to start with a multi-family. We were looking anywhere from 4-8 units to start. We were thinking about a 4 unit to get an FHA loan but wasn't sure if the FHA loan benefits out weigh another 2-4 units of rent coming in each month. From what we could tell the main benefits are when you have a low credit score it's easier to get the loan, is that the main benefit? Or are we missing something? Money down available is about $40k.