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Updated over 9 years ago,
FHA possible anywhere in NYC?
Hello BP, I've recently decided I'd like to try and house-hack with an FHA loan in NYC. I currently rent an apt in Park Slope, but obviously I'm priced out of buying here. Due to limited cash in the bank at the moment, FHA is pretty much the only way for me to get in the game.
Can anyone recommend decent neighborhoods in either Brooklyn or Queens, where I can find something near the FHA limits? Ideally they'd be safe neighborhoods with solid appreciation upside. My purchase price limits are roughly:
2 Family ~ 850k
3 Family ~ 1mm
4 Family ~ 1.25mm
I started looking this past weekend, but the buildings were in depressingly bad shape or had bedrooms that were 6 feet wide (I have a family). Thanks guys, I'm really trying to avoid moving to Jersey, but I am also eager to begin my RE journey.