FHA Loan On BUILDING A Fourplex

[Thomas Land]

Hello, 

I am a Texas A&M student, soon to graduate and take a job in Dallas. I want to cut my teeth on my first real estate deal within twelve months of moving, and I am interested in starting my investment career with a fourplex. Common, I know, but the question that I can't find an answer to is whether I can purchase a $100,000, 0.5 Acre lot and build a $344,000 ($86,000 per unit) on the lot as my first homebuyer's FHA loan.

I know you can purchase a fourplex with FHA, but can you BUILD a fourplex with FHA?

[Wale Lawal]

Congratulation, you are in a great market! 

So FHA has two sections:

FHA section 203(b) is intended for properties that are move-in ready.

However, FHA section 203(K) enables homebuyers to finance the purchase of a home and the cost of its rehabilitation.

You can find more information in the link below. 

https://www.fha.com/fha_articl...