Can you use conventional financing, then later 1st time FHA 3.5%?
Hello All !
Question, can you purchase your 1st investment using a conventional loan, and still have the option to purchase your 1st primary residence using the first time home buyer 3.5% down program?
Scenario: A couple is buying their 1st investment property. None are current homeowners. They eventually also want to buy their 1st primary residence down the line using the first time FHA home buyer programs.
The girlfriend wants to use her credit to buy their 1st investment property.
The boyfriend wants to use his credit to buy their 2nd investment property.
Down the line, they both want to use their combined credit to purchase their 1st primary residence using FHA loan.
In this scenario, can they use conventional financing for investment properties, and still have the option to use first time home buyer FHA loan down the line ?
Appreciate the input from all of you!