Wanted to know if someone could answer this question for me. I live in WA but am trying to get a work transfer to IN where my housing investements are. Scenario would be once my job gave me the transfer to IN to have my family hold back awhile in WA so kids could finish out the year in school and give us time to find our dream home. Thought would be to use FHA to get myself a duplex in IN and live there while commuting back and forth to WA a few times a month while renting the other side out helping me juggle my two houses and utilizing the FHA loan.
Hi @Franco Bacco , you might be able to do that, allowed under the provision in the FHA guidelines for life-changes, but I'd say even if you couldn't manage a 2nd FHA loan out of this, you could look at a 5% down conventional loan. For SFRs and duplexes that are long-term hold properties this can be an even more potent move.
Appreciate the feedback.
Yes, do that. Solid plan. Better yet look for a 3 or 4 unit! I used my first FHA for a duplex and wished I had waited and purchased a 4 unit to fully maximize the leverage available at 3.5% down.