I know there's numerous way of getting money to start real estate with the hard cash lenders, or traditional bank loans . How do you guys feel about the FHA loan process of funding for your house ?
Nothing wrong with it. High leverage and low DP are great, Just make sure you have a plan to get out of PMI asap.
They represent a great opportunity for people just getting into it. Low down payment, lower interest rate than what you see advertised everywhere for conventional (even if your credit isn't the best), flexible credit requirements, higher DTI limits. I'm sure you already know the downsides, just wanted to highlight some of the stuff in the "pro" list.
@Ondrej Brown FHA loans are great but keep in mind they are for owner occupied properties only. You can certainly buy a 2-4 unit property with them...but you must live in one of the units. Hope this helps.
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