Loan structure with a 50/50 partner

[Tim Doyle]

Hi everybody,

First time posting here. I have a question on financing a multi-family (duplex) with a partner, in which the partner will be living in one side. Can we still use a FHA loan if only he is living in the property and not myself?

Are there better ways to structure the loan/deal that does not require us to put 20% down?  Side note: it would be a first time home purchase for both of us.

Thank you for any help!

Tim 

[Ben F.]

@Tim Doyle you guys can partner on the buy, but the mortgage would be in only one persons name. I think this would be fine if it’s in his name and it will be a primary residence for him. You’ll need a lender to advise on this one...