Advice For a Newbie

[Patrick OLeary]

Hello Bigger Pockets family, I'm 23 years old and about to graduate from a university in the Midwest come this May. I've been wanting to invest in real estate for a couple years now, but have been putting all my energy into school. Upon graduating I have a job lined up in big tech with above average average income.(not bragging, giving you a vision of my situation) I also have a good chunk of money in crypto and savings.(again, not bragging) I have a few questions. Do I need proof of income for the first year or just have proof of a paystub to be eligible for a loan? Also, given the current market situation, do I wait it out risking interest rates to rise even more or go for it and house hack a 2-5 unit multi family property? Lastly, with a FHA loan from my understanding I only have to put 3.5% down. For example if I put 20k down would I be eligible for a 515k loan after closing?

Thank you for reading this, have a good day/night!