Zillow Advice: Mortgage Types - Can a buyer qualify for FHA on multi residential?

Hi Phyllis ~Yes, FHA will ...

Sun, 07 Jun 2009 19:27:00 GMT

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.

This is true. You should ...

Fri, 02 Oct 2009 02:16:00 GMT

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.

The qualifications for FHA ...

Mon, 08 Jun 2009 02:06:00 GMT

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.

Yes, I believe so. There ...

Sun, 07 Jun 2009 19:00:00 GMT

Yes, I believe so. There are loan limits for single unit and multi-unit purchases. It will vary by county. I believe a home buyer can purchase a duplex with a FHA loan as long as they owner-occupy their unit.

Cheers,
Danielle