Looking for a non-owner occupied FHA lender for Pennsylvania

Looking for a non-owner occupied FHA lender for Pennsylvania

Investor · Sharpsville, PA · Member since 2016 · 45 posts · 22 votes
I have been using a local per-folio lender and was wondering if anybody knew of any good lenders that for non-owner occupied FHA loans for Mercer County Community?
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Chris MasonPro Member
Moderator
Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
9y

FHA loans are for owner occupants only.

Fannie Mae has some exclusions for that for folks providing housing for elderly parents, disabled children, etc, that are at 95% LTV.

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  • Chris MasonPro Member
    Moderator
    Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
    9y

    FHA loans are for owner occupants only.

    Fannie Mae has some exclusions for that for folks providing housing for elderly parents, disabled children, etc, that are at 95% LTV.

  • Lender · Springfield, MO · Member since 2015 · 379 posts · 180 votes
    9y

    @Chris Mason is exactly correct. Nuff said.

  • Art ShalomovBusiness Member
    Lender · Scottsdale, AZ · Member since 2017 · 39 posts · 39 votes
    9y

    The only way you can do FHA Non Owner Occ is if you are a non occupying co-borrower.

  • Investor · Sharpsville, PA · Member since 2016 · 45 posts · 22 votes
    9y
    Thank you A local investor had told me that a family member had gotten an fha for their triplex and since I knew they never lived there I made the assumption that FHA must of had a program I didn't know about.
  • Chris MasonPro Member
    Moderator
    Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
    9y
    Originally posted by @Jason Allen:

    Thank you
    A local investor had told me that a family member had gotten an fha for their triplex and since I knew they never lived there I made the assumption that FHA must of had a program I didn't know about.

     Occupancy fraud is the most common type of mortgage fraud, but that doesn't make it a good idea. :)

    (If something unexpected comes up, like a job transfer across state, that isn't fraud)

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