FHA Multi Family Requirements

[Kelly M.]

Hi,

I'm interested in purchasing a single family property that has the potential to be a duplex or triplex (very large house). I want to live in one unit and rent the others. I would like to use the other units potential rental income to qualify for the FHA loan.

Sounds easy....But, right now the house is just a large single family property with a bunch of rooms, bathrooms and an extra kitchen. The zoning allows for apartments and many of the large houses on the street have apartment units.

But, what is the specific criteria for FHA to consider a home a "duplex" or "multi family"? Separate electric? Fire barriers? Separate entrances? Etc?

I own two other rentals, and likely would need the potential income from the other units to qualify for the loan. My idea might be to get a bridge loan until I can separate the property into qualifying units?

Any feedback is appreciated

Thanks!