Any advice for first time home buyer
I would love to start investing but first i want to get a house can anyone help me how to get mortgage? FHA? So i wont be paying rent in miami. After a ear maybe i’ll use it as rental property.
Thanks in advance!
Most Popular Reply
Hi Rhoda
So depending on your income and credit score I would say best bet to get a FHA is using a mortgage broker in your area. They are usually easy to work with and will explain everything to you step by step. Personally big banks are a waste of time for the average person. You can try to find a home with a apartment in it and live in 1 part of the home and rent the other part. If you do get a FHA loan you are required to live in it as your primary address for 3 years i believe unless you refinance out of the FHA. So the idea of living there for a year and then moving to rent it under a FHA you cannot do that. You should hunt for a multi family if possible then you can house hack it.