First Time Home Buyer/New To Real Estate

[Dcorian Young]

how do you guys normally find good deals? and do you have to live in the unit for the first year if you go the FHA loan way?

[Sanat Bhandari]

@Dcorian Young

You can find good deals both on and off-market. In this current climate, I suggest looking at expired or 60+ day old listings to find a good deal. Have a competent realtor, lender, and title company to make sure the transaction goes smoothly. 

Yes, you have to live in the unit for a year for FHA loan but there's a couple exceptions namely:

- Military relocation

- Job relocation that puts you >50 mile radius of your current home

- (uncommon) Divorce or family size increase can also qualify as exceptions