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Updated over 4 years ago on . Most recent reply

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Kevin Conness
  • New to Real Estate
  • Southern Oregon
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Non-conforming FHA loan or others?

Kevin Conness
  • New to Real Estate
  • Southern Oregon
Posted

Has anyone utilized a non-conforming FHA loan? I'm a first time buyer having trouble financing the type of property I'm looking for (two separate dwellings on acreage). I can't/don't want to swing 20-25% down for a non-conforming conventional. Is there a way to get a property like this financed for less than 5% down?

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4,180
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Jaron Walling
  • Rental Property Investor
  • Indianapolis, IN
3,853
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Jaron Walling
  • Rental Property Investor
  • Indianapolis, IN
Replied

Yes. Live in one of the units for 12 months. With the lender assuming it's your primary, good credit, and stable income you should be able to get a low DP. 

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