D1 Athlete looking to house hack
I play baseball at Jacksonville University and I am looking to kick start my real estate journey while I am still in college. I would like to buy a house and be able to rent it out to my teammates and once I graduate just alway have baseball players live in the house. My problem is that I only have about 10 grand saved up and I don't qualify for a loan. So my parents would have to co-sign with me which would then bring the down payment up to 20% rather than the FHA I wanted to use. Does anyone have some ideas that could start me on the right path to buying my first house in the next 6-12months. Thank you so much for your time!
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Benjamin Aaker
Professional Services
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- Rental Property Investor
- Brandon, SD
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Hi Michael,
FHA loans do allow you to have a cosigner. You'll still have to comply with their other rules. Can you make it work with the 3.5% down for an FHA loan if your parents cosign?
FHA loans do allow you to have a cosigner. You'll still have to comply with their other rules. Can you make it work with the 3.5% down for an FHA loan if your parents cosign?