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Updated about 10 years ago on . Most recent reply

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Kelly Williams
  • Riverdale , Georgia
2
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42
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FHA multifamily

Kelly Williams
  • Riverdale , Georgia
Posted

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.  

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230
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Mark F.
  • Investor
  • Orange County, CA
138
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230
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Mark F.
  • Investor
  • Orange County, CA
Replied
Originally posted by @Bill Gulley:

First, (4th time this week, 2nd time today) Multi-family is 5 or more units, 1-4 are single family dwellings. A duple is a single family attached dwelling.

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. 

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