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Updated almost 9 years ago on . Most recent reply

User Stats

100
Posts
19
Votes
Reece O.
  • Investor
  • Mexico City, Mexico
19
Votes |
100
Posts

FHA, Multifamily and Use of Current Rents as Income?

Reece O.
  • Investor
  • Mexico City, Mexico
Posted
Hello, I have read when applying for a FHA loan you can use 75 percent of currently rented units for your income. Is this true? So if a duplex rented $500/unit, could I add $375 to my income? How is this affected if both units are rented? I assume I cannot use the $375 twice since I will have to occupy one of the units after closing. Can you do this only with FHA? Thanks!

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