FHA Loan on a multi building property

3 Replies

My wife and I are looking at purchasing a 4 "unit" property. Its 4 different buildings that are all 2bed / 1 bath. We went and talked to our bank about it and they said that wouldn't qualify for an FHA loan.

Anyone happen to know if we have any other options, we can put about 5% down so FHA seemed like our best option.

@Matthew Husby Is your bank the only lender you have spoken with? I would suggest shopping around and seeing what other lenders can offer you. There are a ton of different loan products available, a lender who reviews your current financial situation will be able to tell you what you qualify for.

Originally posted by @Matthew Husby :

My wife and I are looking at purchasing a 4 "unit" property. Its 4 different buildings that are all 2bed / 1 bath. We went and talked to our bank about it and they said that wouldn't qualify for an FHA loan.

Anyone happen to know if we have any other options, we can put about 5% down so FHA seemed like our best option.

 Check with a few different lenders. 

Is each unit a separate property? Like a different APN? That could be the issue that is isn't considered a multi family but four individual homes.