FHA 3.5% Down Requirements

[Tommy C.]

Hi all,

Does anyone know if you are allowed to finance the construction of a 4 Plex using an FHA loan and then use your own funds to build out the basement into an additional unit or two??

This would mean that the FHA only funds the construction of 4 units and I personally build (licensed contractor) or hire out the construction of additional units.

Thanks,

Tommy