FHA or other loan program for livein/investing in Brooklyn, NY

[Nima S.]

Good Afternoon All. I am here for some advice on how to go about this situation. I am planning to purchase a two-family with a legal attic in Brooklyn. NY. I was thinking of utilizing an FHA loan to occupy the legal attic and rent out the first two floors. I spoke to a loan originator from a major bank that does FHA financing. Since house prices are really high in Brooklyn, to make up for the equity a substantial sum will be coming from an RE investor who will be partnering up with me on the deal. The originator mentioned that the since the equity will be funded by an RE investor, FHA will not permit the loan approval in due diligence. Has anyone been able to execute on such a strategy with an FHA or a competitive loan product for first time homebuyers. Thanks.