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Updated over 3 years ago on . Most recent reply

User Stats

14
Posts
4
Votes
Jose A Perez
  • Investor
  • Omaha NE
4
Votes |
14
Posts

Financing first rental

Jose A Perez
  • Investor
  • Omaha NE
Posted

I'm about to co-sign my first and primary property with my fiance's dad, so I'm looking for some recommendations on loans that can finance rehab costs by tying them into the mortgage. I've read about the FNMA loan but not any others yet. Please feel free to describe your experiences dealing with these loans as well. 

Most Popular Reply

User Stats

210
Posts
162
Votes
Brendan Miller
  • Rental Property Investor
  • Gilbert, AZ
162
Votes |
210
Posts
Brendan Miller
  • Rental Property Investor
  • Gilbert, AZ
Replied

Hi @Jose A Perez, I've never used it myself, however you could research the FHA 203(k) loan since you're a first time homebuyer. This loan allows for a borrower to finance both the purchase and the rehab at a 3.5% down payment.

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