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Updated over 3 years ago on . Most recent reply

Jose A Serrato's profile image
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Jose A Serrato
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  • Member since Oct 12, 2021
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Jose A Serrato's profile image
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Jose A Serrato
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  • Member since Oct 12, 2021
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Jose A Serrato
  • Investor
5
Votes |
15
Posts
Buying & Selling Real Estate

House Hacking with a FHA Loan

Jose A Serrato
  • Investor
Posted

Hello BP community newbie here👋🏽, I am really thinking of moving out my parents to house hack a multifamily with an FHA Loan. After my one year is up I can refinance to get rid of the PMI correct? Also I am wondering, there is no way to BRRRR with an FHA Loan since to Buy in the BRRRR I need private money/ hard money lender/ etc, correct?

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AJ Locke's profile image
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AJ Locke
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  • from Palm Coast, FL
  • Member since Aug 22, 2021
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AJ Locke
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  • from Palm Coast, FL
  • Member since Aug 22, 2021
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AJ Locke
  • Investor
  • Palm Coast, FL
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AJ Locke
  • Investor
  • Palm Coast, FL
Replied

@Jose A Serrato A 203k loan would be a great option as long as the property is deemed still liveable by their standards. If, not you can get private money/hard money to acquire the property, then rehab.  Once complete, apply for an fha cash out refi.   

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