Rental Property Investor · Oklahoma City, OK · Member since 2014 · 39 posts · 4 votes
I am interested in buying a pair of duplexes that are side-by-side on the same property. I think they sit on two lots technically, but they're being sold as a package by the same owner for one price. If I plan to live in one of the units, can I use an FHA loan to buy a property like that?
Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
10y
@Eric Robinson When it comes to lending there is no "technically". If the 2-duplexes are 2 separate properties per county records, then the loan has to be for each independently.
So the answer is NO. You can't get a single loan to buy two properties. You can use FHA to buy one and a conventional to buy the other. If you have enough income then the purchase can be process at the same time. And if on of the duplex has tenants then buy that with a conventional loan, so you can get rental credit.