Updated almost 6 years ago on . Most recent reply
Looking for a great FHA 4-plex lender!
Hi guys! I'm looking for a lender who isn't afraid of owner occ FHA loans where projected rents (75%, I know) are used as qualifying income. Someone who is savvy, creative, and responsive. Pleeeease send me your recommendations, I can't get anyone to give me the time of day. Is Arvest worth trying? I'm open to anything.
Also: Anyone know of any triplexes or fourplexes coming up? :)
Most Popular Reply
I think you'll be fine, @Tara Ballenger. Just keep talking to lenders. Depending on your financial situation, it may be worth considering a low-down payment conventional loan, instead of a FHA. It's a much better option, if you qualify. Less paperwork, no up-front PMI, monthly PMI drops once you hit 78-80%.