Can I occupy multiple units to obtain FHA financing?

Can I occupy multiple units to obtain FHA financing?

Member since 2018 · 11 posts · 0 votes

To make the question more clear: Can I buy a property with 5+ units and only lease out 3 of them in order to obtain an owner-occupied FHA loan?

For example, say I buy a 12 unit property. For simplicity, say they are all 2/1 units. So I keep 3 2/1 units and then I say the rest of it is a giant unit which I am occupying with 18 bedrooms and 9 bathrooms.

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  • San Diego, CA · Member since 2017 · 33 posts · 7 votes
    8y
    I think it would only work for a 1-4 unit (residential loan).
  • Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    8y
    No. The Property is more than 5 units.
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