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Elsa M.
  • Wheaton, IL
5
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51
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My question about FHA and Conventional loan

Elsa M.
  • Wheaton, IL
Posted
Hi guys, I soon will be purchasing my very first rental property. It will be a multi family and I will be living in one unit, then moving out and purchasing another. My question is.... I had one realtor suggest that I purchase it with a conventional 5% down first, then a year or two later move out and purchase another owner occupied multi family, with an FHA loan. I was told that if I buy my first property with an FHA, I would not be eligible for a 5% down conventional loan once I move out. I understand that I can only have 1 FHA loan at a time. What are your thoughts?

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