FHA Construction Loans on a multifamily?

3 Replies

Hi BP'ers - Can you use an FHA construction loan to build a duplex, triplex, or quad? I'm having trouble finding a lender that does this.

We're hoping to build a triplex or quad and occupy one of the units.  

Any recommendations or thoughts would be much appreciated. 

Originally posted by @Dan Kelly :

Hi BP'ers - Can you use an FHA construction loan to build a duplex, triplex, or quad? I'm having trouble finding a lender that does this.

We're hoping to build a triplex or quad and occupy one of the units.  

Any recommendations or thoughts would be much appreciated. 

I have never seen marketing directed at me pertaining to using FHA to fund new construction, no.

Renovation, yes. FHA 203k.

afrwholesale.com does this, I'm sure you could contact them and find a broker in the area. They have a one time close program. I would call them and double check on Duplex guidelines but I have closed a few deals on new construction with them doing single family using FHA.

Just an FYI. they are slow, plan on 60-90 days to close unless you and your builder have your stuff together.

Construction loan is a different animal to close.

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