FHA only for duplexes?

8 Replies

I recieved information from a loan officer that stated, FHA loans are only for Duplexes and not 3-4plexes. Can anybody confirm or expand on this?

I was pre-approved in NJ for an FHA loan to purchase a 4-plex. Sounds like this particular loan officer is giving you erroneous information.

I was pre-approved in NJ for an FHA loan to purchase a 4-plex. Sounds like this particular loan officer is giving you erroneous information.

@Angel Rosado thanks for that ! I was trying to get a pre approval for a loan and told him my goals and criteria when he told me that. I though it strange sonce thats all i hear Brandon Turner talk about.

I just closed FHA on a 3-unit. 1-4 unit properties are all "residential" and not "commercial" so your FHA can go up to 4 units.

Best of luck finding a new lender ;)

If the bank won't approve you for 3 or 4 plex, try another bank. FHA can be used to get up to a 4 plex.

@Kevin Izquierdo  FHA will do owner occupied loans for 1-4 unit residential properties. The max FHA loan amount will increase as the # of units increase.

If the loan officer is suggesting its only for Duplex, then he/she is clueless. I routinely do FHA loans for 3-4 units. I suggest you run away from the loan officer and lender.

PM me if you would like for me to see your financials and see if I can qualify you for a higher FHA loan for 3-4 units.

Upen Patel
Mortgage Banker

Yeah. FHA can be used to purchase up to a 4-plex. Now, having said that, not all banks will finance up to a 4-plex. In my experience, hunting for a bank to finance my 4-plex, most of the smaller banks only want SFH and duplexes for their portfolios. Most of the larger banks were ok with 4-plexes.

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