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Updated almost 10 years ago on . Most recent reply

User Stats

122
Posts
11
Votes
Aroldo Villarreal
  • Specialist
  • San Antonio, TX
11
Votes |
122
Posts

I want to buy a primary residence but am an active Investor, do I qualify for FHA?

Aroldo Villarreal
  • Specialist
  • San Antonio, TX
Posted

Hello BP!

I started investing a year ago and now have three rental properties and did my first wholesale assignment about two weeks ago. I'm getting married in June of this year and we are looking to buy a home. My question is, will I qualify for FHA loan of 3.5% down even though I technically am not buying my first house? The three rentals I bought have been used for investment purposes only and have never been my place of residence. I'm hoping that some of you out there have the answer. I don't want my fiancee to chew my head off because my RE investing prevented us from getting a home with a low down payment. Keeping my fingers crossed for good news! If you don't hear from me, you know what happened...... haha

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