Newbie to bigger Pockets

[Heriberto Pumarino]

Hi there BP Fellas just introducing my self here, I’m from St Paul Minnesota and as many here trying to get in real state. I own a Painting bussines and since I’m here I would like to throw 2 Questions.

1. Do you pay any fees when doing a cash out refinancing? Like realtor fees or any other.

2. Can you get a second house with an fha loan in you rent out your primary residence or does it has to be conventional loan? 

[Jeff Schemmel]

Heriberto,

welcome, man!  You should talk to a lender about your first question, and they can cover fees with you.  No realtor fees on a refi, but likely closing costs.

a person can only have one FHA loan at a time, howeve, one can re use their FHA loan, provided they sell or refinance the first. There are also other low down payment options for owner occupants.

give me a shout and we can talk more and I'm happy to connect you with lenders as well.