FHA loan for duplex
I live in New York and there’s a duplex available that’s near my office that’s up for sale. I plan to live in one half and rent the other to have additional income. Is an FHA loan the best option for a mortgage? I am looking for other loan options aside from the 20% downpayment. Thanks for the help. by bdbrown96 from Lakewood, New York. Nov 17th 2021
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
For that type of property, your down payment with an FHA loan is only 3.5%. Other loan options will require much more. I lend for properties in MN, WI, IA, ND, and SD. Find me at FirstTimeHomeBuyer-MN.com - Cambria Mortgage, NMLS 274132
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