All Forum Posts by: Andrew Watson

@Brent Coombs sorry still getting used to the tagging system. 

Thanks for the reply @brent coombs ! I understand, lending policies for investment properties kick in when two are going. I do not understand how they kick in though.

If my first purchase is done via FHA, after fulfilling the requirement of living there for 1 year, I want to move, but keep the house as a rental, and purchase a new primary property.

Will I need to fulfill Investment lending policies for my first property before the purchase of a new primary residence? Does the new property need to fulfill the requirements? Or does this vary by lender? 

Hello Forum,

Thanks ahead of time for reading this.  I keep a pretty meticulous budget and am starting to plan entering real estate towards the middle to end of this year. My question relates to financing.

I am planning on FHAing my first property (mfr), and planning the second purchase I came across some information mentioning that you need a 70-75% LTV of the FHA Loan to be able to qualify for a second mortgage. I found this thread here discussing this, but that issue wasn't addressed in detail..

https://www.biggerpockets.com/forums/48/topics/324...

Is this true? I am finding contradicting information online.