Updated about 8 years ago on .
FHA parameters with househacking
As far as utilizing the house hack method I have a few questions. Two years ago I purchased a Town home, as my primary residence in Phoenix AZ, with a conventional loan. I have been renting out the rooms without a formal lease to a friend and my sister. I am now currently looking to utilize an FHA loan to acquire a multifamily property. I plan on using the equity built in the SFH as a down payment. My question are as follow.
1) Is this possible?
2)Has this ever been done before?
3) What are the odds of the under writer allowing this?
4) I know this is very vague, what other information is this relevant to the situation.
5)What other questions should I be asking.
Thank you very much for your feedback.