Updated almost 6 years ago on . Most recent reply
Help with what to do with my FHA loan
Hello everyone,
I am new to real estate and exploring options for my first FHA loan. With that being said I have a few questions about it and I am curious to know the best route to take from more seasoned investors. I am looking at buying my first property.
My first option is to buy the home with the FHA loan, live in it for a year and then turn it into a rental right when I hit a year. If I go this route, when I take out another loan to get another house can I still get qualified for the FHA loan or do I have to go another route and i f so what do interest rates and down payments look like?
My second option would be to use my FHA loan to buy a 4plex and house hack it for obvious reasons. Getting a lower down payment and lower interest rates with that loan seems the most beneficial with a 4plex.
Any information or help is much appreciated and again I am new so feel free to point out any issues in the two proposals.