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Updated almost 4 years ago on . Most recent reply

User Stats

150
Posts
50
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Clayton Hepler
  • Rental Property Investor
  • Pittsburgh, PA
50
Votes |
150
Posts

2nd House Hack? I have an FHA 203K loan, now what?

Clayton Hepler
  • Rental Property Investor
  • Pittsburgh, PA
Posted

My wife and I are interested in purchasing another house hack 3-4 unit in the area that we purchased and renovated our first one; a three unit building that we renovated from top to bottom. We used a FHA 203K Standard loan.

How have other people done this, like @Craig Curelop mentions in his House Hacking book? We would like to have a similar type of product; a low down payment loan with a construction component. 

We are looking at using a HomeReady Loan with a Homestyle Renovation component, but this product looks like it can only go up to 75% LTV with renovation and purchase, which obviously makes finding a suitable property a very difficult path.

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