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What is an FHA loan?

A Federal Housing Administration (FHA) loan is a low down payment option that’s ideal for borrowers who may not otherwise qualify for a mortgage or borrowers with less-than-perfect credit. Features of the loan include a fixed or adjustable rate, limited…

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If I’ve never rented property to someone before as a landlord, and I’m considering buying a home and using some or all of it as a rental property, am I able to use the expected rental income on the home I want to buy? If no, how many years of “landlord experience” do I need in order to apply rental income toward my mortgage?

The answer to this question can be complicated and ultimately depends on the mortgage product. See below: Fannie Mae (Conventional): You do NOT need prior landlord experience to use 75% of lease. Freddie Mac (Conventional): You need 2-years prior landlord…

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