Newbie Question of the day: Financing

[Brock Heppner]

Being a new investor more specifically a college student. What type of financing should I be looking at for my first deal. I’m hoping to buy a house to hack this coming spring summer and I am trying to figure out which type of financing to go with? Maybe I’m not even thinking about this the right way. Any advise would be great.

[Andrea Weule]

If you're doing an owner occupy house hack, then definitely traditional financing. A good mortgage broker should be able to help you, but I'd check with a few and even banks to see what they have to offer. I'm assuming you don't want to put a ton down being a college student so FHA is probably what you'll be looking for. The big thing to compare is the cost of the loan...origination and admin fees. Rates are fairly similar for an owner occupy FHA loan, so look to the other fees to make sure it's the best deal possible.

Best of Success!