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261
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Patrick Flanagan
  • Property Manager
  • Prineville, OR
166
Votes |
261
Posts

FHA loan on fixer upper duplex

Patrick Flanagan
  • Property Manager
  • Prineville, OR
Posted

Im in the process of trying to buy a duplex from a family friend. For my current house I used the VA home loan, the house had to be move in ready. This duplex I'm looking at is 2700 square foot and built in 1998 so its not a very old building. The issue is, the one unit has no carpet, no trim, small bathroom subflooring rot from a toilet leak, and the outside of the building needs new paint. This was all caused from a tenant(besides outside paint), very easy fixes. My question is can I get approved for a FHA 3.5% down home owner occupied loan if there are fixes that need to be made to the property??? I plan on living in the property with my wife and fixing the property up while we live in it.

thanks,

Pat!

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