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Updated about 5 years ago on . Most recent reply

Eric Drew's profile image
Eric Drew's profile image
Eric Drew
  • New to Real Estate
  • from Philadelphia Area
  • Member since Mar 25, 2020
Connect

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Eric Drew's profile image
Eric Drew's profile image
Eric Drew
  • New to Real Estate
  • from Philadelphia Area
  • Member since Mar 25, 2020
Connect
Eric Drew
  • New to Real Estate
  • Philadelphia Area
0
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2
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Starting Out

Conventional Loan Vs. FHA Home Loan

Eric Drew
  • New to Real Estate
  • Philadelphia Area
Posted

Hi,

I am a first time buyer and have been saving for my first rental property with about $30K saved. I am looking into loan options for my first property deal. I was wondering thoughts on getting a conventional loan and putting a 20% down payment on a single family house versus using a FHA Home Loan to put down 3.5% to live their for a year and then move out and begin to rent it out. Some pros/cons of this latter option would definitely help.

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