Conventional Loan as a First home buyer?
Hi everyone,
A brief story of my current situation.
I graduated a year ago from New York Chiropractic College and I'm currently working as an Associate Chiropractor in Connecticut. As you must imagine, I have roughly $200,000 in student loans...
So, that being said, I want to start in the real estate investment journey with a multi-family property where my husband and I can live for at least 1-2 year (Eventually we would like to buy at least 2-3 more multi-family properties short term). Now, aside from the fact that I could get more creative with the financing options, I want to explore the loan/mortgage option first. Multiple lenders have told me that because of my financial situation (my student loan) there is no way they can approve me for anything other than the Conventional Loan.
How smart/effective will my investment be if a do it through a Conventional Loan?
Will I be able to buy another property in short term if I do this option?
I appreciate any constructive comments, guidance and help.
Liz