@Brittany Fife FHA is for owner occupied properties only. If you are going to owner occupy the property for at least 1 yr then you get use FHA 3.5% down to buy.
Came across this thread while wondering the same question - it seems a majority of the lenders I'm contact about a 4 plex I'm considering, and intend on owner occupying one of the four units, require 25% down payment for a 75% LTV. Is this a typical challenge with FHA? I'm Active Duty living overseas, but plan on moving back to the states and into the property in the coming months. Am I missing something?
@Nicole A. unfortunately, my other two properties tie up a majority of my VA entitlements. What's left will only cover about 75% of the offer I'm planning on submitting.
@Nicole A. unfortunately, my other two properties tie up a majority of my VA entitlements. What's left will only cover about 75% of the offer I'm planning on submitting.
Do you have enough equity in the properties to refinance out of a VA loan into a conventional?
You could then free up your entitlement for the 4-unit property.