Updated over 9 years ago on . Most recent reply
Government lowdown loans
Hello, guys!
I would like some experienced info on a thought I had while coming up with my investment plan. I plan on going the small multifamily route and wanted to know if its possible to use multiple low down payment loans from different government institutions.
For example lets say I obtain an FHA 3.5% down on my first deal then a year later (comply with the rules) I find a second deal and use a conventional 97 loan to get in. Would it be possible to do this? Is it legal?
I know you can obtain more than one FHA loan as long as you obtain the right equity and refinance the property but I would like to work around this method and expedite the process, at least for the first couple deals. Quicken Loans also offers a 1% down for first time home buyers so there I would have 3 low down loans for 3 different deals, which to me would be really cool to do.
Good day.