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Is it better to use the first time homebuyers program versus buying investment property first

I am a first time homebuyer that is interested in buying investment property to live in and fix up to sell.  But I dont know if I will be risking my first time homebuyer status on investments when I might be better off using the first time homebuyer program and get the home im going to live in and then start buying investment properties. 
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September 09 2013 - Wichita
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Answers (2)

That depends-How much of a down payment do have for your investment property? You will need 15% or greater. How about purchasing duplex, townhouse-side by side? That way, you will have less of a down payment 3%-5% and still can take advantage of both worlds-first time home buyer and landlord.   

Good Luck! 
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September 09 2013
First of all the first time homebuyers anything program does not mean what it sounds like. If you owned a home before you can still be called a 1st time home buyer, it only means you have not bought a house in the last few years. It is a bad name they use because it only means you have not purchased a home recently.

You need to go speak to a lender. You will get a better rate if it is a primary residence you are buying. They fix it and sell it. An investment home is one you would rent out, so that is not what you are doing.
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September 09 2013
 
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