Philadelphia FHA Lender

[Brendan Daly]

Hi BP -

I am looking to house hack in Philadelphia - owner-occupied Duplex, Triplex, or Quad. I currently have my eye on a triplex, but I am running into problems finding a lender who will originate an FHA loan (3.5% down) on a triplex. I keep getting a response stating that 25% down is required on all multi-unit properties, but everything I have read states that it is possible to do 3.5% down on a triplex using FHA. Does anyone have a lender referral who might be able to help me with what I am looking for?

Thanks,

Brendan

Keywords - Mortgage, FHA, Lender, Loan, Philadelphia, Pennsylvania

[Harjeet Bhatti]

You can finance up to 2-4 units under FHA loan or Home Possible. 3.50% is minimum requirement for FHA and 5% for Home Possible for primary residence. Try to call some other lenders in you area.