FHA LOAN

[Dev Why]

Can someone elaborate on the process of an FHA loan? Like an example on how you would use it. I know its a 3.5% loan. But is it a 3.5% loan of the final price of a property your buying?

[Denise Madrid]

FHA loans are for first time homebuyers. It was created to help people buy homes and to stimulate the housing market. The property must be approved to meet FHA guidelines. The one investment you may be able to do is buying a multi unit, up to a 4-plex and live in one and rent out the rest. I just read this in my real estate course so I hope I'm not mistaken =)