NEW INVESTOR FIRST TIME NEED HELP

[Kevin Mckee]

I just found the Bp and i really love the site so far. i wanted to start this discussion because i need some advice on my first investment. I have some money saved up and i want to by a2unit multi property live in one unit rent the other but i want some advice on how to find the best mortgage i can get. i have good credit but i heard when banks run your credit it makes it go down every time (I don't know if that's true or not). Is it worth putting 20% down or get a FHA loan? How many years would you suggest on my first investment?

[Kim Younkin]

Hi @Kevin Mckee and welcome to BP! You're in a pretty good position to get financing with good credit and cash to put down -- search threads here on BP for "FHA and house hacking" and you will see some informative conversations. The BP blog surely has some articles on this issue, too. Some of our agents' clients have done FHA loans to house hack, lived there for the required year (or more) and moved on to other investing and were happy with that choice. Good luck to you with getting your questions answered and with your purchase!