Rental Property Investor · Cincinnati, OH · Member since 2019 · 16 posts · 1 vote
Im a 21 year old guy with a opportunity to seller finance a portfolio of 12 SFR. I haven't bought a house yet and I've been working a W-2 to get the 3.5% down payment on my first 4-plex.
I want to know if I will lose the 3.5% down payment if these 12 SFR are in my name when I go to get the loan.
Maybe, maybe not. FHA requires it to be owner occupied. The problem maybe that with the payments on the 12 units that the lender may decide you do not qualify for the FHA loan, so it is probably best to close the fourplex first if you can.