CAN I QUALIFY FOR FHA? SHOULD I DEFINITELY GET A PARTNER/MY INTRO

[Vasilis Axios]

Hey everyone my name is Vasilis Axios and I am a newly licensed real estate agent in the Boston area. I am searching for my first property which will be a 4 unit at 300,000.I want to use the FHA loan but I have been told by 2 mortgage officers I need two years of pay stubs which would be a problem . Everything else is in check with my credit, down payment, 6 months of rent, ect. I have a partner that is willing to co-sign because he has proper paperwork including these pay stubs. Is there anything I can do ? I don't want this to stop me from purchasing within the next 6 months.

[Lien Vuong]

Your LOs are correct. That price is going to land you very far away from Boston area and you shouldnt co-sign on your FHA bc that partner has to live there with you. Take your time, build up credit, income, reserves, and you'll find it in time. Spend the two years learning markets and excelling at your job and you wont have to settle on a house 2 hours away from Boston in a C class neighborhood.

If you dont want to wait, save the $ towards the 25% down and buy something with commercial loan. They wont care about your income then - just the property's.