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Updated almost 4 years ago on . Most recent reply

Jose A Perez's profile image
Jose A Perez's profile image
Jose A Perez
  • Investor
  • from Omaha NE
  • Member since May 3, 2021
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Jose A Perez's profile image
Jose A Perez's profile image
Jose A Perez
  • Investor
  • from Omaha NE
  • Member since May 3, 2021
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Jose A Perez
  • Investor
  • Omaha NE
4
Votes |
14
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Starting Out

Financing first rental

Jose A Perez
  • Investor
  • Omaha NE
Posted

I'm about to co-sign my first and primary property with my fiance's dad, so I'm looking for some recommendations on loans that can finance rehab costs by tying them into the mortgage. I've read about the FNMA loan but not any others yet. Please feel free to describe your experiences dealing with these loans as well. 

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Brendan Miller's profile image
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Brendan Miller
  • Rental Property Investor
  • from Gilbert, AZ
  • Member since Mar 30, 2020
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Brendan Miller's profile image
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Brendan Miller
  • Rental Property Investor
  • from Gilbert, AZ
  • Member since Mar 30, 2020
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Brendan Miller
  • Rental Property Investor
  • Gilbert, AZ
163
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Brendan Miller
  • Rental Property Investor
  • Gilbert, AZ
Replied

Hi @Jose A Perez, I've never used it myself, however you could research the FHA 203(k) loan since you're a first time homebuyer. This loan allows for a borrower to finance both the purchase and the rehab at a 3.5% down payment.

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