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Updated over 6 years ago,
Low Down Payment Conflict
Hi,
I am currently a college student and am looking to buy a 3-4 bed room home to live in next year (August- May) for my senior year, and rent out the other 2-3 rooms. Obviously August- May is only 10 months and I would spend most of January 8 hours away at home wih my family.
Is there anyone from like the FHA that i could talk to in order to negotiate the 3.5% FHA loan, maybe change it to like 5-7% since i will won’t be in the home for the full 12 months?
AND/OR
Do you guys have any other ideas of low down payment options that would apply to me (either for full time students and/or someone living in the home for 10 months)?
Thank you!