Atlanta, GA · Member since 2017 · 14 posts · 1 vote
Hello everyone! I am so thankful I found this website. I am a newbie with investor goals. I am looking to purchase my very first property next year and I am trying to put everything in gear to be approved. I would like my first property to be a duplex in the Atlanta, GA area or a surrounding location. I would like to connect with a mortgage professional who knows the FHA guidelines regarding purchasing a duplex. Thanks in advance for your help and advice!
Atlanta, GA · Member since 2015 · 109 posts · 42 votes
9y
Welcome Felicia. I've been around BP for a couple years, but currently have paralysis by analysis or whatever its called. I'm looking to do something similar so if you find any good information please let me know. Good luck!
Atlanta, GA · Member since 2015 · 109 posts · 42 votes
9y
Welcome Felicia. I've been around BP for a couple years, but currently have paralysis by analysis or whatever its called. I'm looking to do something similar so if you find any good information please let me know. Good luck!
Atlanta, GA · Member since 2015 · 109 posts · 42 votes
9y
Thanks for the response Stephanie. Hopefully not hijacking this thread.
I recently puchased a home with conventional loan and asked about potentially using FHA 203K loan, but was steered pretty strongly against it. One reason I was told is due to the fact that the market is so hot, buyers would much rather accept an all cash or conventional loan over FHA due to it being a hassle and longer closing etc.
1) Is there a way to find which homes/duplexes would be eligible for FHA 203k loan in certain neigborhoods or should I just look for properties that may have been on the market for a while so probably not as much competition? 2) Is there anything else I would need to think about if I were to purchase a duplex with FHA 203k loan vs a SFH?