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Updated almost 8 years ago on . Most recent reply

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15
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1
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Jesse Gargus-Smith
  • Farwell, MI
1
Votes |
15
Posts

FHA loan for MFs question

Jesse Gargus-Smith
  • Farwell, MI
Posted
So I was talking to my REA earlier about a mailing list for MFs, and I mentioned that I wanted to be able to use an FHA loan for those properties, and he said that an FHA loan would only work for one half of the duplex and not the whole thing. As far as I've researched (mainly on BP), an FHA will work for the entire property. Am I wrong in thinking this? How does an FHA loan work with MFs? I plan on house hacking for at least a year, or whatever the FHA loan states. What kind of resources could I give my REA to look at if he's confused. I don't want to speak without backing to give him. Thanks in advance guys!

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404
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226
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Jared Bouzek
  • Lender
  • Denver, CO
226
Votes |
404
Posts
Jared Bouzek
  • Lender
  • Denver, CO
Replied

@Jesse Gargus-Smith You are correct that FHA can be used to purchase 1-4 unit properties. I would recommend finding a solid lender who can guide you and don't rely on your agent for lending information.

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