Updated about 5 years ago on .
Co-Borrower Daughter first homeon Duplex Hack
My daughter just out of college and now working full time at the family business(Automotive collision repair) has found a Duplex she wants to house hack, being her first home purchase. We're under contract for little more than we budgeted but having our daughter just down the road will certainly be worth it. Since her credit history is limited, along with her employment history, I've decided to help and be the co-borrower. I had anticipated using an FHA loan, but I'm now wondering whether a conventional is a better choice?Paying mortgage insurance up front($6500) and premiums monthly is a bitter pill to swallow. I'm almost certain I will have to put a new roof($20k) on the duplex too, being it's 16 years old in Florida. Please let me know if I'm on the right path utilizing an FHA or whether a conventional would leave me with a little more money in my pocket as we begin this journey into real estate investing. Our goal is to Brrrr properties together moving forward
Thank you for anything you feel you’d like to offer.