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Answers (4)
Best Answer
- Charlie Sparks, "Charlie Sparks"
- Contributions:73
Hi Phyllis ~
Yes, FHA will finance up to a 4 unit property as long as one of the units will be owner occupied. You can find the maximum FHA loan amount for your state/county here.
https://entp.hud.gov/idapp/html/hicostlook.cfm
Does your buyer own a home now? If so and it is a SFR it will look suspicious if they are buying a duplex to live in. Just a heads up. If I can be of more help please feel free to contact me via my profile page.
Yes, FHA will finance up to a 4 unit property as long as one of the units will be owner occupied. You can find the maximum FHA loan amount for your state/county here.
https://entp.hud.gov/idapp/html/hicostlook.cfm
Does your buyer own a home now? If so and it is a SFR it will look suspicious if they are buying a duplex to live in. Just a heads up. If I can be of more help please feel free to contact me via my profile page.
- Jay Sondhi, "jaysondhi"
- Contributions:8
This is true. You should also keep in mind that if you look at 3-4 unit properties, the market rents must debt-service (support) the entire mortgage payment. This makes it extremely difficult if not impossible to purchase with a low downpayment in the San Francisco Bay Area.
Two unit properties work much better in our area with FHA.
Two unit properties work much better in our area with FHA.
- Timothy Sutherland, "SunTrust"
- Contributions:619
The qualifications for FHA financing on a duplex is different that the qualifications for FHA financing on a 3 unit or a 4 unit property. You'll need to bear this in mind should your buyers switch gears and start looking at 3 or 4 unit properties.
Whichever the number of units (up to 4); it (at least one of the units) must be owner occupied.
Whichever the number of units (up to 4); it (at least one of the units) must be owner occupied.
- Danielle Lazier, "danielle_lazier"
- Contributions:588
Can a buyer qualify for FHA on multi residential?
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