All Forum Posts by: Tim Swierczek

Greg you make a good point that FHA can be hard on older properties. I still assert that FHA is the way to go for a 4 plex specifically since conventional will not allow you to buy a 4 plex for less than 25% down even if its owner occupied. It makes sense to search far and wide for the right 4 plex to qualify FHA. They are not easy to find but if you are open on area 3.5% down on a four plex at a 3.5% rate even with the MI is cheaper than any conventional rate you're going to find on a 4 plex.

Also if you are willing you can combine it with an FHA 203K on a 4plex the rate will increase but you open your options.

 https://www.fanniemae.com/content/eligibility_info...

@Eli Sunderland if you are going to house hack, is this your first property? If so, I highly recommend buying a 4 plex on an FHA loan. Full disclosure I'm a loan officer, having said that the numbers on an FHA 4 plex cannot be beat, even if you put 25% down conventional. Seriously,if your interested reach out to me and I will walk you through them. No obligation

Hi Eli,  I own 3 properties in lower NE Minneapolis near 18th & Central and I have determined the same thing.  I currently am pursing other areas of the metro.

Tim 

PS- are you in any MN real estate clubs?  I just started getting into them.