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13
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3
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John C.
  • Investor
  • NJ / NY
3
Votes |
13
Posts

Owner-occupied FHA for a fully-tenanted multi-family?

John C.
  • Investor
  • NJ / NY
Posted

If I wanted to purchase a multi-family property with the intention to use an owner-occupied FHA loan and the current tenants have 6+ months left on their leases, how would I best navigate this situation?

Could I offer cash for keys to one of the tenants to vacate within 60 days of closing (I believe that's the window necessary to move residences for the mortgage)? If so, what would be the best way to go about doing that contractually in the offer to satisfy the seller? 

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