Updated over 5 years ago on . Most recent reply
House hacking question Philadelphia/jersey
I currently own a sfh in a rowhome in south Philadelphia purchased 2 years ago and I’ve been looking to get into the real estate for a long time. I spoke with a lender who said I can’t get a fha loan in Philadelphia, how true is this? Are there ways around it?
he qualified me for the loan contingent on me moving to jersey since I recently got a job out there and that could be used as cause for underwriting. Ive been looked at the jersey market and with the taxes and all, not sure this is a good idea (job is in the jersey city area. I’m leaning on the guidance of the good people of this forum to help me out here.
Most Popular Reply
@Christopher Ade Quite likely their concern is just your ability to meet the occupancy requirement for the FHA loan.
Some info from FHA that might help...
https://www.fha.com/fha_article?id=1870