All Forum Posts by: Ethan Ducharme

Hey everyone,

I received this document from a lender in Logan Utah about possible options for purchasing a place as I will be moving to Utah in August. My plan is to purchase either a single family with the idea of renting one of the rooms to help cut down my mortgage payment. (I would like to pay around $600-700 a month max for my mortgage after everything included on a single family) Or find myself a multifamily where I can house hack and live in a unit and rent the other unit/units. Multi families in Logan UT seem to be pretty hard to find.  What are your thoughts given the numbers and what route may be the best to go, as well as how that compares to other larger institutions and their loan options.

In order they are:

1)  3% down, prepaid mortgage insurance, single family.

2) 3.5% down, FHA, 1-4 unit.

3) 0% down , Utah housing NO PMI loan, single family.

4)  5% down, prepaid mortgage insurance, 2 unit.

I don't think I can come up the the 5% down but if it seems like the best viable option I may be able to squeeze it. 

See attached photos.

Thanks!

Hey Everyone,

I am looking for advice on lenders people would recommend in the Cache Valley/ Logan Utah area. I am looking at getting my first property, hopefully a 2/4 unit multifamily using an FHA or 203k loan. I am going to be a graduate student this fall with a lower salary so I am interested in finding a lender that will consider my rental units as part of my income in consideration for my loan. Any recommendations would be great.

Thanks!

Hi there! 

I am moving to Logan Utah this August for graduate school and will be there for the foreseeable future. Ive been on bigger pockets for the last year now and would like to make the leap in acquiring my first property. I have been in the renting game for a long time and am interested in purchasing a single family home or duplex as a place to live for my time in Logan. I would like to then continue to use it as an investment property when I leave.