Updated over 8 years ago on .
First Time Home buyer
My grandson has a great desire to purchase a duplex and live in one side of it as a way to get into real estate investment. He is 21 and will be a first time home buyer. He mentioned to me that there are first time buyer home loans for 3% and that all he has to do is live in the duplex for a year then he is eligible to purchase another duplex using the same type of loan, and that he can do this up to 3 times. This is way out of my field as I am having to put down 20-25%.
My question is, does anyone know if what my grandson is saying is true? Can he really get a 3% loan three times in a matter of 3 years?