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Updated about 10 years ago on . Most recent reply

FHA multifamily
I am looking at a multifamily property to purchase. I am interested in an FHA multifamily loan. The property I am looking at is a single family home with a separate carriage house that is divided into a duplex. It is 3 unitis total in 2 buildings. I recall seeing that to an FHA multifamily must be one building. Is this true? Does anyone have experience with this?
I have a lender and am in talks with him as far as the loan goes. I just found this property today and he is looking into it as well.
Most Popular Reply
Bill, I'm curious to know where you got that definition. I've been in the mortgage industry for 9 years and I've never heard that definition. One to four units are still considered multi family, but multi family residential. Five units and above are multi family commercial. A single-family dwelling is a one unit property (like a 3/2 house) where one family lives.