Updated almost 4 years ago on . Most recent reply
Seller finance vs. conventional loan
I believe have the chance to purchase a home well under market value with seller financing, however I would be using this as my primary residence. This would be my first property and I was curious how this would effect my future options to invest. Is the equity gained from purchasing under market value worth sacrificing the advantages of say an FHA loan to house hack. It would be my intentions to stay here and I'm unsure of how much time it would take for me to save a down payment for a multi family with my W2. Is there a way to pull equity out of this property through a HELOC or cash out refi, and If so at what point would that be possible? Or would it be a better idea to use a conventional loan?