All Forum Posts by: Andy R.
Andy R. has started 19 posts and replied 63 times.
Post: FHA loan for 2nd mortgage
Andy R.Posted
- Investor
- Orlando, FL
- Posts 67
- Votes 17
Is it possible to have an outstanding conventional mortgage and get an FHA loan for a multifamily (duplex or above)?
Post: FHA Loan on Second Property
Andy R.Posted
- Investor
- Orlando, FL
- Posts 67
- Votes 17
@Brie Is it possible to have an outstanding conventional mortgage and get an FHA loan for a multifamily (duplex or above)?
Post: FHA Loan On 2nd Property
Andy R.Posted
- Investor
- Orlando, FL
- Posts 67
- Votes 17
I am looking to do a cash out refinance on a property I currently do not own (it is a family member's); therefore taking on a mortgage. I would like to use that cash to purchase a property using a conventional loan, putting down 25% with some of the money from the cash-out refi. Then, I would like to use an FHA to purchase a multi-family. Is this possible? Would I have to do an FHA loan first and then the cash out refinance? What is the best option?
Thank you!