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Updated almost 8 years ago,
Financing options. Help!
Hi gang! I have set a goal to purchase my first rental property by the end of this year. I haven't yet sought a preapproval because I think it's a little early, but I have some questions as I have purchased two homes in the past:
I know lenders look for employment history. I have been a stay at home dad for the last two years, just recently returning to work so that my wife could have her time with the kids. With this said, I have very little recent employment history and a lender may be turned off by that.
My goal is to house hack with an FHA. I'm looking for a duplex or a triplex to make this happen. I would still consider a single-family unit, though.
With that said, please give me your advice. I'm really worried about my lack of job history and really trying to figure out how I can secure financing for the property.
Thanks in advance!!