Financing in 97030 : Real Estate Advice

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Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
My son is pre-qualified for an owner occ FHA loan of $150k. Can a duplex, triplex or 4-plex count for an owner occupied FHA low down payment loan?
Like others have pointed out, FHA loans can be used for 1-4 unit properties. However when you are financing a 3 or 4 unit property, FHA requires the property to be self-sufficient AND ... more
0 votes Share Flag Mon Dec 10, 2012 Financing in 97030
George Raymo…, Real Estate Pro in Fort Worth, TX
George Raymondo answered:
Owe 165K on my home with no equity. Want to get a 2nd home, combined inc. of 80K with 700 cr. How difficult would it be to get a 2nd 100K loan?
Denny is 100% correct. Unless you want to put down 20%-30% ( or 10% down for FNMA Homepath REOs) for going non-owner, the best option would be have your fiance finance the other purchas ... more
0 votes Share Flag Sat Oct 8, 2011 Financing in 97030
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