Regular Contributor
Posts: 140
Registered: ‎12-22-2008

Re: So I've started my journey **updated 6/27/12**

Yes, I'm still on here.  I've put my search on hold as I hit a few road blocks but working through them just fine.  I found out I can't use down payment assistance with a multi family property.  So I'm saving up more money, however what I've found is a lot of multi-family homes are not legally duplexes ( don't let "not legally" scare you)  What that simply means is they are taxed as single family homes.  For instance one house I was looking at (but lost the bid) is 3k square feet, but the owner put up a wall in the house and made the other side a full  3 bedroom 2bath unit w/ all the aminities.  I've found a lot of this as a matter of fact, so things are looking good on that front.  The thing is I really wanted a traditional 4plex.  So, I'm saving money right now to do that and weighing my options.  The other downside to a multifamily is if I use a FHA loan, I have to live in one of the units. Not too bad, but depends on you situation if you are ready to be a onsite landlord. 

Starting Score: 615
Current Score: Lender pullEQ 667, TU04 698 TU98 644, EX 660
Goal Score: 700

Take the FICO Fitness Challenge

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.