Hi BP, I've come across a great deal but the property seems to be a foreclosure. Is there any possible way to obtain the property with FHA loan? Thank you in advance, MP

@Michael Peralta Depends on the condition of the property and if you plan to occupy it.

If its 1 unit you need 15% down payment for investment property. If property need the work you won't be able to buy under conventional loan for investment property.

@Michael Peralta If the condition is okay, you can buy with an FHA loan. However, you have to have the intention of occupying one of the units. If you plan on flipping it, don't use an FHA loan.

@Christopher Phillips Q1 - I have not seen the property in-person but I plan to soon. Q2- I currently plan to house-hack the property. However, this might be an opportunity to flip for its true retail value.

Foreclosures - Is it possible to NOT put down 20%?Foreclosures

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Foreclosures - Is it possible to NOT put down 20%?

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