Updated about 4 years ago on . Most recent reply
Financing first rental
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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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.