FHA question on 4 plex

3 Replies

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?

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.

@thawda aung, I don’t see why not. You state your first loan was a conventional loan. Just because you intended to house hack doesn’t mean you have to under conventional loan rules. You would have to live in the second property if you get an fha loan. I see you are in Texas - Contact @andrew Postell for help - he’s my lender and does a great job at explaining things.

The question that needs to be answered is ....What your conventional loan an owner occupant loan or an investor loan ? If it was owner occupied, as previously stated you will not be able to get an FHA loan for 1 year. There are a couple of exceptions such as job change to a new city or growing family

If you loan was an investor loan, all is good to get an FHA loan