Updated over 6 years ago on . Most recent reply
Question on loan arrangements
Hello All!
So I just got approved for my first mortgage loan. I got it as a first time home owner so I only have to pay 3.5% down. I got $150,000 but I have had my loan officer write up house worksheets for a few properties I have found with four units. I was just curious if it would be a better idea to look for a really cheap property and then do a rehab loan or stick with my regular FHA loan and look for an investor for fixes? I know 150,000 isn't much to work with but I have already found a few properties it would work well with. I also found a few buildings that would really need just paint & a touch up in some areas. Just trying to figure out the best route to take. Any suggestions are helpful! :) I know I could also try to work something out with the seller but not sure if that's a good idea?