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Updated about 9 years ago on . Most recent reply

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16
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1
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Josh Brosius
  • North Tonawanda, NY
1
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16
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Conventional loan or FHA for first home buyer

Josh Brosius
  • North Tonawanda, NY
Posted
I want to buy a duplex for my first house/investment career and rent out the other half til I buy another. I was originally planning on buying one with a 20% down payment and conventional loan but after listening to the Bigger Pockets YouTube video on conventional loan or FHA, I'm beginning to question which path to take. Brandon said if it was his choice he'd use FHA with 3% down and save enough to do conventional loan on another deal at the same time. That way he now has two deals with spending only 3% more and has two instead of one. I do have enough money for 20% but I could save more for the extra 3% added. I was just wondering what the forum would think with this method for starting off my investing career or even further down the road if I'm in this situation again. Thank you very much for helping. This website has helped me tremendously!

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