Updated over 5 years ago on . Most recent reply
3.4% down on a second home?
I am buying my first property 3 family fha 3.5% down
Main reason I was looking for a 3 instead of a 2 is because my agent said I could get another 3.5 % down if me second home is a 2 family..
Has anyone ever heard of this or used this strategy?
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
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You can only have one fha loan at a time, unless you meet one of the few exceptions....moving out of town for work, increase in family size, etc.
You’d have to refi out of fha on the first one to use fha on the second one
The 2 verses 3 units does not matter at all.