Multiple FHA loans for residential multi family

Investor · Kansas City, MO · Member since 2015 · 70 posts · 22 votes

Hey BP! I'm looking to use FHA financing and house hack quads while in college. I understand that you must occupy the property for 1 year. After this period is it difficult to repeat the process and obtain another FHA loan for a second (or third) property?

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Wayne Brooks
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
10y
You can generally only have one FHA at a time, unless you have to move 50 plus miles for work, etc.
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Chris Trupiano
OP
Investor · Kansas City, MO · Member since 2015 · 70 posts · 22 votes
10y
@Wayne Brooks so no banks would allow multiple for investment purpose? Or just unlikely
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Wayne Brooks
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
10y
It's an FHA rule, not the banks. FHA is for owner occupant only, so they limit it to one. You can google up FHA requirements, on HUD's site.
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Steve Bracero
Real Estate Agent · Westboro, MA · Member since 2016 · 1k+ posts · 471 votes
10y
Hi @Chris Trupiano
Yes, you must live in the property for one year. I believe you can only have one at a time, your second property may be creative financing or 20% down-
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