Although the FHA loan isn't just for first-time home buyers, it is a phenomenal option for those that just can’t seem to hit the down payment or credit score requirements of a conventional loan. The FHA loan requirements aren't hard to hit, but hitting them could give you access to one of the best financing tools in the entire real estate industry. With the FHA loan, even if you’re just starting to save up cash for your first home or trying to take care of your credit, you can still buy a residential property that can build your wealth in the background. David Pere, our Military Millionaire, used the FHA mortgage to buy his first duplex. He was then able to house hack (rent out the other unit), allowing him to live as close to free as humanly possible. Since then, he’s been able to pull out equity, collect rent checks every month, and continue to buy income-producing property. Even if you’re not looking to go down the rental property route, the FHA loan can be a great option for you on your first (or next) property. Just be sure that you, and the home, can fit all the FHA requirements laid out in this video. ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Find an Investor-Friendly Lender for Your Next FHA Loan: https://www.biggerpockets.com/loans?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Join the BiggerPockets Money Facebook Group: https://www.facebook.com/groups/3307645739309341 ~~~~ Should You Start Investing With an FHA Loan? https://www.biggerpockets.com/blog/fha-loan-pros-cons?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ FHA Loans Explained: https://www.biggerpockets.com/glossary/fha-loan?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ 5 Ways to Build a Real Estate Empire With FHA Lending: https://www.biggerpockets.com/blog/build-real-estate-empire-fha-lending?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Connect with David on BiggerPockets: https://www.biggerpockets.com/users/usmc3140?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Follow David on Instagram: @frommilitarytomillionaire or https://www.instagram.com/frommilitarytomillionaire/ 00:00 What is an FHA Loan? 01:04 2022 FHA Loan Requirements 02:57 FHA Inspections 03:29 The FHA 203(k) Loan for Renovations 06:12 Why the FHA Loan is a Great Way to Get Started