First House Hacking FHA Lender Advice

[Nate Lee]

Hello BP,

I am a newbie real estate investor trying to buy the first multi family house with house hacking in Indy area. In such competitive market these days, to be able to get my offer accepted as an FHA (possibly 203k) , it feels like I am going to need a lender who understands the REI and is able to lend with flexible terms. I am pretty discouraged by the current market competition and quite lost where to start finding lenders from. 1. Should I start by calling major banks? Credit unions or mortgage lenders?

2. Do they need to be local or can they be anywhere in the country?

3. How can I increase chance of getting offer accepted with FHA (203k)?

Any advice would be appreciated!

Thank you

[Nate Lee]

Hi @Jaron Walling,

Thanks for your response. I was too intimidated to even make the first call to lenders, but your posting has definitely helped me to start the process. It is not an easy market to get my foot in the door but I'm thinking of it as a long run, will continue to analyze deals until the right one comes up!