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Updated almost 4 years ago on . Most recent reply

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16
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Kayvon E.
  • Investor
  • Los Angeles
6
Votes |
16
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Can you buy in cash then get FHA loan?

Kayvon E.
  • Investor
  • Los Angeles
Posted

Can one buy a property on market with cash then get an FHA loan after closing? Trying to be competitive in this market, and I know my FHA offers are going to be ignored. Any insight here? Thanks in advance!

Most Popular Reply

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Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
2,461
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2,512
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Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
Replied

It's called Delayed Financing. Buy in cash then get a loan immediately thereafter. Helps you leverage the power of a cash offer. I believe this is only available to Fannie Mae loans and not FHA.

If your credit is good enough you should consider conventional financing.

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