Purchased 1st property through LLC, can I still do FHA?

[Christopher Wallak]

Hi all,

I recently purchased my first property near the Buffalo area through an LLC (received a commercial loan). I was wondering if I could purchase my next property as an owner-occupy and receive FHA benefits (ie: low down payment, etc), then transfer the property to my LLC after 1 year when I move out?

Thanks!

Chris

[Matt Carey]

If you purchased through LLC, you told them it wouldnt be owner occupied correct? FHA properties are required to be owner occupied. You should ask your lender these questions. That is why they have phone numbers.