Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 4 years ago,
Bankers on FHA loans
Are some lenders "better" or more versed in using a FHA Loan. I already own a property through a conventional loan and I am ready to buy my next. I want to use the all to powerful method of using a low money down FHA loan for my 3-4 unit I am looking for.
I called my lender I have worked with before to inquire about my eligibility of such a loan. He swore up and down that you can't use a 3.5 down FHA for more than 1 unit. Am I crazy or has it not been mentioned in the last 5 books I've read.
I am guessing that some bankers deal with FHA guidelines much much more. Is this correct? If so, time to talk to a new banker, at least for this loan... What's a good tactic for finding a well versed lender in this field??