Updated about 9 years ago on . Most recent reply
FHA mortgages for duplexes
Hello! So I feel like I'm finally making some traction with buying rental properties but not sure where to go from here. My husband and I just purchased 1 side of a duplex with cash. We are looking at 4 more units that are for sale. We have a personal home mortgage with about $100,000 equity, but we've only been in the house a couple months and dont think we can draw on that cash for 6-12 months, and would need more money than that anyways. I've read that we can get several FHA loans, but will they look at debt to income ratios? Would it be 3.5% down? Trying to see what my options may be. You guys are so great on here!! Thanks for the help!!
Shannon