FHA load eligibility
2 Replies
Vipul Vaghela
New to Real Estate from Milwaukee
posted 11 months ago
I have a quick question regarding FHA eligibility. I'm planning to buy a multi-family unit with my partners through our LLC this year. We will use a conventional loan.
Next year, I'm planning to go for house hacking and the question is, Can I remain eligible for a conventional 5% or FHA 3.5% loan? My google-fu says yes I can but still want to pick your brains.
*ignore typo in the subject. I meant FHA loan :)
Wayne Brooks
Real Estate Professional from West Palm Beach, Florida
replied 11 months ago
Yes, owning other properties has no effect on fha eligibility.
Andrew Postell
Lender from Fort Worth, TX
replied 11 months ago
@Vipul Vaghela yes, under the scenario you described, you would still be eligible for a FHA loan.