Updated almost 8 years ago on . Most recent reply
FHA loan with fair credit vs. fixing credit and conventional loan
I am currently in the process of looking for my best loan option as a first time real estate investor. I have poor to fair credit that I have been steadily improving in the range of 615-625 depending on what score you look at and an annual salary of $80,000 this year. I think I would most likely be looking at a single family home as a rental or BRRRR in Saint Petersburg, FL or the surrounding area as I have not found a lot of multifamily options. What are the main advantages and disadvantages of going with an FHA vs. traditional loan and what would you do if you were looking for your first real estate investment if you were in my current situation? Thanks for any help!