Multifamily

FHA buyers who have looked for a duplex, triplex, or fourplex lately have probably found out that competition is fierce for these homes. If you do find one for sale, you’ll probably have to go head-to-head with cash buyers and investors using conventional loans. But what if you could buy a single-family home and convert […]

Many first-time and repeat buyers wonder if they can use a co-signer on an FHA multifamily duplex, triplex, or fourplex loan. Unfortunately, you can not use a non-occupying co-signer or co-borrower on a 3.5% down FHA loan for a 2-4 unit property per HUD guidelines. While this is disappointing news, here are some things you

Fannie Mae announced a 5% down conventional loan with no self-sufficiency test in late 2023. Interested buyers should apply now. Read more here. Buying a multi-unit house with an FHA loan is a fantastic idea. With one motion, you become a homeowner and a real estate investor. What’s more, your bottom-line monthly payment might be

Many people wonder if they can use an FHA loan to get their feet wet as a landlord, earn rental income, reduce primary residence expenses, and start investing in real estate. The answer is a resounding “yes.” FHA loans allow you to buy a duplex, triplex, or four-plex (2-4 unit) property as long as you

When it comes to buying your first house, you can go the traditional route and buy a single-family home. But if you’re the kind of person who likes to think differently, a 2-4 unit home might sound more attractive. You own a home and collect rental income. And with a 3.5%-down FHA loan, the idea

Buying a duplex, triplex, or fourplex, and now a single-family with an ADU is one of the smartest things you can do in real estate. You become a homeowner and a landlord with one transaction. But not every buyer knows about an FHA rule that could make it easier to buy a multifamily property than

It sounds perfect – buy a home with two accessory dwelling units (ADUs) with just 3.5% down using FHA and rent out the ADUs. If only it were that simple. Unfortunately, FHA does not finance homes with two ADUs on the property. The HUD 4000.1 states, “The Appraiser must notify the Mortgagee of the deficiency

Two powerful features of FHA loans are 1) buying a multifamily home, and 2) rehabbing a property. But can you combine these features to get an FHA 203k rehab loan on a multifamily? Yes, you can. FHA allows its 203k loan to be used on 1-4 unit homes as long as you plan to live

While FHA loans are only for owner-occupied properties, you can buy a quadplex with one of these loans. That’s because FHA considers a property “owner-occupied” when you live in one of the units. This applies even if you rent out the remaining units. But the question arises: what if you find a quadplex that you