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Updated about 9 years ago on . Most recent reply

John B.'s profile image
John B.'s profile image
John B.
  • Investor
  • from Palisade, Colorado
  • Member since Aug 9, 2016

User Stats

21
Posts
2
Votes
John B.'s profile image
John B.'s profile image
John B.
  • Investor
  • from Palisade, Colorado
  • Member since Aug 9, 2016
John B.
  • Investor
  • Palisade, CO
2
Votes |
21
Posts
Private Lending & Conventional Mortgage Advice

5 Unit FHA House Hack

John B.
  • Investor
  • Palisade, CO
Posted

I'm interested in a multi that currently has 5 units. It is listed as having 5 units on the county property website. If I wanted to use an FHA loan (3-5% down) and house hack it, how would I be able to do so on this property?

Would the current owner have to change it to 4 units before I got qualified for the loan. And, if so, how would they have to change that, would adding a doorway between the units work or would they have to have reclassified through the county as four units?

Or, could I just intend to use the 5 unit as a 4 unit?

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