All Forum Posts by: Jose Cordero

Ok, I'm looking to purchase a home for the first time. I have been looking on the market and I have set my budget at 200k. All the homes around my budget needs repair. I was pre approve with an FHA loan but seems to me that I can get a better deal on a home and rehab it my style, for, FHA alone does not approve homes in need of repair. I would like a 203k FHA loan on a 165,000 home in need of a foundation repair. Would it be worth the effort? What is better? Conventional rehab or FHA 203k? Need help please! I'm only throwing a 8% down.

Much appreciated!!! Thanks for your reply. I have been looking at a different state where homes are less than 100k. I'm thinking of purchasing 2 homes at 40k each in front of a beach. Thinking the blanket loan might be useful, as for, my credit is not even at 740, yet, I might have to wait.

Ok, seems like I'm trying to look for the right answer and cannot find the right answer to my question. Investment has been in my mind for more than 10 years. I have never stepped the latter to buying my first home yet. This year will be the time where I purchase my very own. Although, I want to buy multiple homes and hold for a long term investment. Is there is a such thing as a loan that helps you buy multiple houses in any area, and how good of a credit you need to have? Please, can someone help.