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Updated over 5 years ago on . Most recent reply

Devante Boll's profile image
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Devante Boll
  • from Corpus Christi, TX
  • Member since Jan 16, 2018
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Devante Boll
  • from Corpus Christi, TX
  • Member since Jan 16, 2018
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Devante Boll
  • Corpus Christi, TX
24
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Buying & Selling Real Estate

How Difficult To Get 5% Conv

Devante Boll
  • Corpus Christi, TX
Posted

Hello BP,

Diligent researcher here, in the beginning of my acquiring knowledge phase. I have a question in regard to the 5% Conventional loan. Is this a hard loan to obtain? I have heard it is pretty rare, but it is the loan I want to utilize on my first real rental property purchase. What are good "to-knows" in reference to this loan? 

I appreciate you reading this in advance and happy investing!

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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied

@Devante Boll - It has normal credit and DTI requirements like any conforming loan - but it is only available in certain census tracks

http://www.freddiemac.com/homepossible/eligibility...

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