FHA loan, 1 year minimum?

[Chase Romine]

If I purchase a 4 plex, do I need to live in it a year or two years to qualify for a FHA loan?

[Jerry Padilla]

@Chase Romine

As mentioned, FHA is a federal program and you should have the intention of living in the property for one year. If you refinance, when it is your primary, there is another one year commitment with the refinance, plus you will have to have a 20% equity position for a conventional refinance.

An underwriter for an FHA mortgage is going to question if they see a recent refinance out of an FHA loan and then a new one you are applying for in a couple months. FHA isn't meant as a means to keep aquiring low down payment properties to be turned into investment properties. There will be the least difficulty going from a multi-family to a SFR, but going from MFR to MFR with FHA may get denied.