203k Loan for First Property

[Robert Fry]

What are your guys’ thoughts on using a 203k loan for your first property?

[Sara Frank]

I used a 203k loan for my first property! It went great for me, but theres a ton of stuff I would do differently as well. Higher closing costs, more stressful transaction but it offers a lot of upside if you are short on cash. Plus its an FHA product so you can use is for 2-4 unit MF and get a full 6% seller subsidy if you know how to structure the deal. I definitely recommend it if the numbers work.