Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

15
Posts
2
Votes
Nathaniel Smith
  • Rental Property Investor
  • Columbia, SC
2
Votes |
15
Posts

Any tips on how to get an FHA loan when I have no credit?

Nathaniel Smith
  • Rental Property Investor
  • Columbia, SC
Posted

Does anyone have any tips on how to get a FHA loan when I have no credit and no full time job? For some context I am a Junior in College and a full time student. I work full time during the summer but cannot during the year because of school. Next school year I want to house hack a single family home and rent by the bedroom to cover the mortgage, insurance, taxes, and other expenses.

Most Popular Reply

User Stats

29
Posts
12
Votes
Bobby Wallace
  • Real Estate Consultant
  • Charleston, SC
12
Votes |
29
Posts
Bobby Wallace
  • Real Estate Consultant
  • Charleston, SC
Replied

Nathaniel Smith -  Get someone (family member, relative, friend, etc)
to be the primary borrower; unfortunately FHA guidelines are not
designed for "Full time students".

Your plan to "house hack" a single family home is one that is used by a
lot of college students. My "Tip" would be to use the creative approach
that many broke investors starting out (many with bad credit) have to
utilize. 

There is more ways to get what you want than qualifying for a FHA loan -
as a matter of fact, if you worked at it, you could probably find what you
are looking for by the end of this semester!

Good luck!



Loading replies...