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Updated about 5 years ago on . Most recent reply

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83
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Tara Ballenger
  • Real Estate Agent
  • Portland, OR
16
Votes |
83
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Looking for a great FHA 4-plex lender!

Tara Ballenger
  • Real Estate Agent
  • Portland, OR
Posted

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

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4,876
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2,466
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
2,466
Votes |
4,876
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
Replied

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%.

  • Jaysen Medhurst
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