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Updated about 4 years ago on . Most recent reply

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Garrett Cannon
  • Kansas City, MO
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First time investor

Garrett Cannon
  • Kansas City, MO
Posted

I am 23, living in the KC area currently looking to purchase my first property and do a house hack with a duplex or triplex. I am currently looking at different locations for loans and prices. What are some good tips to keep in mind throughout the process to make it as easy as possible on the loan side as well as when/if I get the property. Thanks all!

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Michael Dumler
  • Real Estate Agent
  • Atlanta, GA
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Michael Dumler
  • Real Estate Agent
  • Atlanta, GA
Replied

@Garrent Cannon certainly talk to lenders about qualifying for an FHA insured loan, if that is the avenue you wish to take. It differs by state but in order to qualify for an FHA insured loan most lenders will want to see a FICO credit score above 580, verifiable employment history for the last two years, a managable debt to income ratio, and of course that the loan is used for a primary residence. Hope this helps man!

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