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Updated over 6 years ago on . Most recent reply

User Stats

10
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3
Votes
Ben Backman
  • Seattle, wa
3
Votes |
10
Posts

WA state FHA lenders for small multifamily

Ben Backman
  • Seattle, wa
Posted

Good afternoon Biggerpockets,

My goal is to purchase a 2-4 unit property in the king/pierce county area in 2019 (particularly interested in hilltop neighborhood in Tacoma, WA). I was thinking about taking the FHA, house hacking approach. I am not quite ready to buy due to lack of funds, but at this rate i strongly believe I will have about 20k by July, 2019.

I would like to prepare by finding a good FHA lender in king county that will work hard on get me approved for a FHA mortgage. My one concern is that I just started a new job working for City of Seattle as a lineman ($34/hr) and i do not fulfill the 2yr solid employment requirement. My employment previous to this job ranges from seasonal fishing jobs in AK, temporary jobs due to a broken leg, and some other construction electrical work. Also in the last two years I was going to school for engineering, but forced to drop out. My monthly expenses are very low and have a FICO of 750.

So my question is what lenders in king/pierce county, WA have you had good experiences with when it comes to FHA multifamily deals. Also please feel free to drop any tips/ advice for a new investor looking to take this path.

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