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All Forum Posts by: Andy R.

Andy R. has started 19 posts and replied 62 times.

General Real Estate Investing

Post: FHA Loan on Second Property

Andy R.Posted
  • Investor
  • Orlando, FL
  • Posts 66
  • Votes 16

@Brie Is it possible to have an outstanding conventional mortgage and get an FHA loan for a multifamily (duplex or above)?

0 Votes
Buying & Selling Real Estate

Post: FHA Loan On 2nd Property

Andy R.Posted
  • Investor
  • Orlando, FL
  • Posts 66
  • Votes 16

I am looking to do a cash out refinance on a property I currently do not own (it is a family member's); therefore taking on a mortgage. I would like to use that cash to purchase a property using a conventional loan, putting down 25% with some of the money from the cash-out refi. Then, I would like to use an FHA to purchase a multi-family. Is this possible? Would I have to do an FHA loan first and then the cash out refinance? What is the best option?

Thank you!

0 Votes