First Real estate agent I spoke with said I can't do FHA?

[James Roux]

Well I just started looking for a agent in the Orlando area today and the first one I spoke with told me I can't use a FHA loan to buy a multi family property? Am I missing something here Everywhere Ive read it says I can??

[Patrick Connell]

James Roux , you could very well be right. I'm not real good at sugar coating so hopefully this doesn't come off worse then it's meant to, but an "investor" without money to play with, little to no experience, working with an FHA loan isn't the most attractive investor client to work with.

Someone mentioned finding the top 5 producers in an area, those people aren't gonna want to play either. Your best bet is to find a name-brand brokerage and hire one of their newer agents, someone who has the support in place and is hungry for business.

Any decent loan officer should be able to turn out a new pre-approval letter within an hour any day of the weak; use a local lender if you can.

As far as cash out of pocket, there are currently a lot of good conventional loan products out there that only require 5% down, which isn't a heck of a lot more than 3.5%. Some of them even come without PMI so your payment would actually be lower then with an FHA.