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Updated almost 5 years ago on . Most recent reply

User Stats

14
Posts
3
Votes
Kevin Andre
  • Phoenix, AZ
3
Votes |
14
Posts

FHA Mortgage questions

Kevin Andre
  • Phoenix, AZ
Posted

Hey I have a couple questions about FHA loans in general, I'm a 19 year old and have been doing extensive research on real estate and wanting to get my feet wet;

When applying for an FHA loan, for say a SFH, would rent from each room of the SFH count as income to pay for the mortgage?

I was also wondering if I would be able to rent out each bedroom as soon as I close a deal and move in, considering there is no HOA restrictions.

I appreciate any advice/feedback

Most Popular Reply

User Stats

1,344
Posts
872
Votes
Brenden Mitchum
Agent
  • Rental Property Investor
  • Atlanta, GA
872
Votes |
1,344
Posts
Brenden Mitchum
Agent
  • Rental Property Investor
  • Atlanta, GA
Replied

@Kevin Andre

You'll likely have to find a cosigner. But first step is to find a great lender in your area. I am sure this won't be too difficult since there are tons of Phoenix investors here on BP that you can ask for a recommendation.

By the way man, I think it's awesome that you are getting started on this so early. Veteran investors often praise me on getting started early but you are six years ahead of me! So just keep your foot on the gas and don't let up!

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