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Updated over 8 years ago on . Most recent reply

User Stats

47
Posts
8
Votes
Shannon Cannon
  • Investor
  • Denham Springs, LA
8
Votes |
47
Posts

FHA mortgages for duplexes

Shannon Cannon
  • Investor
  • Denham Springs, LA
Posted

Hello! So I feel like I'm finally making some traction with buying rental properties but not sure where to go from here. My husband and I just purchased 1 side of a duplex with cash. We are looking at 4 more units that are for sale. We have a personal home mortgage with about $100,000 equity, but we've only been in the house a couple months and dont think we can draw on that cash for 6-12 months, and would need more money than that anyways. I've read that we can get several FHA loans, but will they look at debt to income ratios? Would it be 3.5% down? Trying to see what my options may be. You guys are so great on here!! Thanks for the help!!

Shannon

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