FHA; any alternative?

4 Replies

I hope everyone is having a great day today. I was calling up my banks around the area and asking questions regarding to the FHA loan; apparently you need to have 2 years of work employment history unless someone cosign. I'm not planning to have my family on it nor friends. Is there any alternatives out there? I read on invesitng with low or no money down that you can lease to own but theres a clause. I appreciate it for the feedback. I'm planning to invest in a duplex-fourplex.

Thanks,

Ron Casas

It will be tough to get around that I think most loans will require 2 years of work history.

Unless you were to get seller financing or another investor that kicked in money to help with a down payment.  Or just finding someone to cosign.

Did you read the free how to guide under the learning tab on top?  It has loads of information.  There are also many free podcasts here that cover this topic.

Originally posted by @Brent Paul :

It will be tough to get around that I think most loans will require 2 years of work history.

Unless you were to get seller financing or another investor that kicked in money to help with a down payment.  Or just finding someone to cosign.

Did you read the free how to guide under the learning tab on top?  It has loads of information.  There are also many free podcasts here that cover this topic.

 I'm just getting through it. I decided to finish the book first. Thank you for the feedback!

Ron,

  Most lenders will require at least 2 years of work history for underwriting. You may want to check with broker or start out with simple duplex setup (live in 1, rent the other).

AJ

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