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Updated about 10 years ago on . Most recent reply

User Stats

318
Posts
154
Votes
Osazee Edebiri
  • Realtor
  • San Jose, CA
154
Votes |
318
Posts

I already have a standard loan on my house, can I qualify for FHA to buy multifamily 2-4 plex?

Osazee Edebiri
  • Realtor
  • San Jose, CA
Posted

If you have done so, please give your example. Thank you

  • Osazee Edebiri
  • Most Popular Reply

    User Stats

    147
    Posts
    50
    Votes
    O'brian R.
    • Investor
    • Redondo Beach, CA
    50
    Votes |
    147
    Posts
    O'brian R.
    • Investor
    • Redondo Beach, CA
    Replied

    I haven't done it personally, but yes you can get an FHA loan even if you have a conventional loan on your personal residence, assuming you meet the usual DTI, credit score minimums, etc. The only catch is that you're going to have to move into the 4plex as a condition of receiving the FHA loan.

    @Melvin, that's news to me. I heard if you can prove that you'll actually be moving into the 4plex, then it can be done. 

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