Asked by Chad Benson, Chicago, IL • Fri Jan 11, 2013
We can't afford a 20% down-payment for conventional loans but are interested in purchasing a foreclosure multi-unit. We can put down 3.5% for the FHA loan, but the property is listed slightly higher than the $524k guidelines. Can we pay cash to bring the purchase price down to $524k, then get a FHA loan to cover the rest?
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