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Updated over 5 years ago on . Most recent reply

Don Ellestad's profile image
Don Ellestad's profile image
Don Ellestad
  • Rental Property Investor
  • from Waco, TX
  • Member since Sep 13, 2019
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Don Ellestad's profile image
Don Ellestad's profile image
Don Ellestad
  • Rental Property Investor
  • from Waco, TX
  • Member since Sep 13, 2019
Connect
Don Ellestad
  • Rental Property Investor
  • Waco, TX
1
Votes |
16
Posts
Private Lending & Conventional Mortgage Advice

Assumable Mortgages and second mortgage FHA loan.

Don Ellestad
  • Rental Property Investor
  • Waco, TX
Posted

There is a seller who is selling with an assumable mortgage. The purchase price is 220,000. The seller has 150,000 left in his morgage. If I live on the property, can I get a FHA loan for the $70,000 which would be a second morgage?

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