Updated almost 8 years ago on . Most recent reply
FHA question on 4 plex
Hi all,
I bought a 4plex for house hacking back in feb 18 with conventional 25% down. Currently, I found an another home where I am looking to get a FHA loan with 5% down. I do not currently have FHA loan or had one before. Is it possible to get one?
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
Assuming you got an owner occupied loan on your current 4 plex, you haven’t fulfilled your 1 year requirement to live there yet. It’ll be tough getting fha to give you another owner occupied during this first year.