Forgotten Your Password?

Need to Register?

Question Icon

i have low credit but want to buy an income property, please tell me options

credit score is 600 - is this something that could get financed through fha by candicewinkler238... from Jordan Valley, Oregon. May 8th 2014 Reply


Chris Gummerson (cgummerson11)
#397 ranked lender in California - 648 contributions

FHA doesnt allow for purchase of investment properties, but you could purchase a 2-4 unit property, rent the other units and use that rent as part of your income. Your would want to bring your fico up to 640 for better options.

May 8th 2014
0
0
Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

Don't know of a lender that will do that without a substantial amount down if at all with that score. definitely work on your score first.

May 8th 2014
0
0
Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

Loans are available with 30% to 35% down payment, for 1-4 units, and 5+ units. Contact me at 503-620-2239 for more information.

May 8th 2014
0
0
Subscribe to our news feed.