Updated over 1 year ago on . Most recent reply
Conventional or FHA advise
When my wife and I bought our first real estate home which is our primary residence. I used FHA with that house and under my name. Due to my wife credit at that time wasn't qualified. It is only under my name.
My question is that's that mean she can use FHA loan to buy our second property. Live there, and rent the current house we are living? and if I use conventional, can I use HELOC to buy the second property to fund the 20% requirements for conventional loan?
We bought the house in October 2020 and currently sitting at around 100k+ equity. Just looking at my option to be able to start at REI. Thanks in advance.