Realtor · Saint Petersburgh · Member since 2022 · 65 posts · 38 votes
Hey Everybody,
I am looking for a lender on a small multifamily home 2-4 units in PA with a FHA or conventional loan. Also I have a few rentals.
NEED HELP/ ADVISE on the best way to buy as many homes over the next 10 years with owner occupied loans that is legal. I would apricate any help or thoughts on how I can do this. How long I have to live in a home, how soon can I buy another home.
Hey, great question. You can absolutely use FHA or conventional loans to buy a 2–4 unit property in PA as a primary.
FHA only requires 3.5% down and allows rental income from the other units to help you qualify, but you must live there at least 12 months, and only 1 FHA loan can be used within 100 miles distance.
Conventional loans can work too—5% down for 2–4 units—and you can use rental income with the right documentation. To buy multiple homes legally over time, the key is moving into each new property and living there at least a year. After that, you can convert it to a rental and use conventional loans for the next one.
You can do this every year if you qualify. Just be honest about occupancy since you’re signing documents stating you’ll live in the home. If you’re curious about today’s rates or want to talk strategy for your next steps, feel free to reach out. I’ve helped a lot of clients build long-term portfolios this way nationwide.