Question for everyone.
If I already own a rental property from a turnkey company would I still qualify for a FHA loan?
I would like to purchase a multi family 3 flat building in which I will be living in one of the units and renting the other 2 out. I just won't be able to put down 20% so I was wondering if I can be qualified for an FHA loan or is it too late since I already own a rental property?
Hey Amanda, I'm pretty sure it will depend on your state and I'd definitely call your local lender and simply ask -- just to be sure. Keep grinding, blessings!
Yes. Owning rental properties does not disqualify you for an fha loan....as long as you are going to owner occupy part of it.