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Updated over 4 years ago on . Most recent reply

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369
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Ryan Cleary
  • Real Estate Agent
  • Saint Lucie, FL
330
Votes |
369
Posts

FHA Loan occupancy question

Ryan Cleary
  • Real Estate Agent
  • Saint Lucie, FL
Posted

My girlfriend and I currently own a primary residence in New York and are looking to purchase a 4-plex in Florida. We will be renting our current place out, I will be moving in with family as my job is located in New York.  My girlfriend is currently working remote so she would occupy one of the units in the 4-plex. 

We are looking to take advantage of an FHA loan low down payment. Would she be able to split her time between Florida and New York or would that raise a red flag?

Would it look bad if she took on a roommate as well?  

Thanks!

  • Ryan Cleary
  • [email protected]
  • 561-850-8229
  • Most Popular Reply

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    Scott Wolf
    • Lender
    • Boca Raton, FL
    917
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    1,868
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    Scott Wolf
    • Lender
    • Boca Raton, FL
    Replied

    @Ryan Cleary, you'll need to speak with an FHA expert or attorney(which I'm sure I can recommend if needed), but I'm assuming same as dodging NY Taxes, if it is her primary residence and she's there more than 50% of the year, you should be OK.

  • Scott Wolf
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