Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Followed Discussions Followed Categories Followed People Followed Locations
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago on . Most recent reply

User Stats

3
Posts
0
Votes
Shirley Jean-Louis
  • West Palm Beach, FL
0
Votes |
3
Posts

FHA Financing for Multi Family

Shirley Jean-Louis
  • West Palm Beach, FL
Posted

Hi everyone,

I am interested in getting a multi unit property as a first time home buyer. I was thinking of just going for it and getting a fourplex with an FHA loan but I am hearing from someone that I am speaking with at Quicken Loans that the max that I can buy with an FHA loan is a 2 unit property, is that correct? I was hoping to move to and buy something in the Huntsville, AL area

Thank you

Most Popular Reply

User Stats

1,160
Posts
379
Votes
Melvin List
  • Lender
  • Tampa, FL
379
Votes |
1,160
Posts
Melvin List
  • Lender
  • Tampa, FL
Replied

@Shirley Jean-Louis yes you can finance a 4 unit FHA as long as the property passes the Self-Sufficiency Test.  The properties rental income minus a 25% vacancy factor must be higher than the mortgage payment.  If the property does not pass the Self-Sufficiency Test then you might want to look into Home Possible with 5% down.

  • Melvin List
business profile image
C2 Financial

Loading replies...