FHA Loan VS VA Home Loan
Hi Everybody
Im active duty military. Im looking to get the most out of my first home purchase in the Las Vegas or Henderson area. I will be moving to the Nevada area, in the beginning of March.
Originally, I intended on using my VA Home Loan (have been approved for $175K).
However, after a local Real Estate Meetup discussion, it was recommended that I could also use a FHA loan to buy a 4-unit building.
If I understood correctly, the justification to get a higher loan amount through an FHA loan was based on the profits coming in from the other 3 units.
Perhaps, through Nevada’s First Time Home Buyers Programs:
Home is Possible for Heroes
Mortgage Credit Certificate
I could get the FHA Loan's down payment taken care of…
I have a 711 credit score…
Any advice/thoughts is greatly appreciated!