First time home buyer?

4 Replies

Hello everyone, I am originally from Houston where I started my RE investment journey and currently have two rentals that are now under my LLC. I purchased them through 'private' money, meaning non-traditional bank. They don't show up on my credit reports. Would or am I still considered a first time homebuyer if I decide to purchase a home through a credit union or bank?

I now live in New Braunfels, TX and am looking to house-hack. Looking to do an FHA or conventional loan.

Hi Alberto!  That's a great question & I'm curious to know the answer too.  I'm a realtor in New Braunfels and am going to text a few of my local lender contacts and ask them!

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Hi Alberto! You don't have to be a first time home buyer to qualify for FHA loans. You just can only have one FHA loan at a time and they can only be for owner-occ (or house hacking) properties, not pure rentals. Your current properties shouldn't hold you back at all from getting your next FHA or conventional loan.

-Kristen