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3 to 4 units: Guidelines for Purchasing a 3-4 Unit Property with FHA Financing in Oakland, CA - 01/19/12 03:12 PM

Direct link: http://www.youtube.com/watch?v=vRyNb2jdHZk&feature=channel_video_title
Are you a first time homebuyer interested in purchasing a 3-4 unit property in Oakland? Good news, with FHA financing you can do just that with a 3.5% down payment! Following are some of the guidelines for qualifying for this financing:
For starters, the property has to be your primary residence- meaning that you must live in one of the units.
Three to four unit self-sufficiency test:
The maximum mortgage for three and four unit properties is limited, so that the ratio of the monthly mortgage payment, divided by the monthly net rental income does not exceed 100 … (0 comments)

 

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