Updated over 5 years ago on . Most recent reply
How do FHA new construction loans work?
How do FHA new construction loans work? I'm wanting to get one to house hack a duplex. On the bigger pockets podcast I hear them say all you have to do is live in the other unit for a year and then you will be eligible to qualify for another FHA loan is that true? Does the home have to be paid off before you can qualify or if it's rented out can you still qualify for another FHA loan? Also can you wrap the land that you are purchasing to build on into the loan?