arrow13 Comments
  1. […] If you are getting ready to buy your first home, did you know that you can buy a 2-4 unit property (duplex – fourplex) using an FHA insured mortgage…  You DO have to occupy one of the units. Financing a duplex is very similar to buying a 1-unit […]

  2. BBanks
    Jun 02 - 8:31 pm

    Can I still buy a duplex with FHA with no intent to rent out? Use as a family home but one for me and one for my mom?

    • Rhonda Porter
      Jun 03 - 12:22 pm

      Yes you should still be able to buy a duplex as long as you’re living in one of the units as your primary residence.

  3. CharlesB
    Jun 12 - 8:42 am

    Did FHA change the requirements to purchase a Triplex or Quad last year when they changed the PMI terms? Someone told me that you now have to have rental experience when buying anything more than a duplex. Is this accurate? I couldn’t find any reference online. Thanks,

    • Rhonda Porter
      Jun 12 - 5:05 pm

      Hi CharlesB, I don’t believe so – but I will double check and let you know what I find out.

      • CharlesB
        Jun 14 - 10:36 pm

        Thanks Rhonda, I appreciate it!

  4. John Egger
    Apr 15 - 5:57 pm

    Hey Rhonda, Do you know if HUD will allow you to use gift funds for the down payment only on an FHA loan for 3-4 unit? I know you have to be personally responsible for the three months of reserves. Have you had any personal experience with these types of scenarios?

    Thanks,

    John

    • Rhonda Porter
      Apr 25 - 11:13 am

      John, per the guidelines, the borrower must have 3 months reserves that are their personal funds (not a gift) with a 3-4 plex. I’m not seeing where in the guidelines that it states the down payment cannot be a gift.

  5. […] If you are getting ready to buy your first home, did you know that you can buy a 2-4 unit property (duplex – fourplex) using an FHA insured mo…  You DO have to occupy one of the units. Financing a duplex is very similar to buying a 1-unit […]

  6. Michael S.
    May 04 - 10:02 pm

    Hello, I was curious with the strict fha inspection process, if I did want a 4 unit building, does all 4 units and the outside structure need to be 100% fha inspection compliant? I mean what if the building is solid etc. 1 unit or 2 will pass a inspection but the other units need work? Can I still get a fha loan and just slowly fix the other units as I live in one unit because it passed the inspection? Thank you!

    • Rhonda Porter
      May 04 - 10:51 pm

      Michael, the entire property (all units) must meet FHA guidelines. I don’t find that FHA guidelines are more strict (at least not that much more) than conventional guidelines.

  7. tiffany
    Jun 23 - 9:38 am

    If I am looking to buy land that has two houses on it could I still get a FHA loan?

    • Rhonda Porter
      Jun 27 - 7:56 pm

      Probably not. One issue is going to find other like properties that have recently sold and closed with two properties on one lot for the appraisal.

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