| FHA will finance a 4 unit home with only 3%
down. The rental income of the 3 remaining units is calculated as income and assists buyer
for qualifying. Like all FHA home loans this is for owner occupied homes only meaning you
will need to live in the property. There is no maximum sales
price but there is a maximum loan amount for this type of property. The actual maximum
loan amount will depend what state and county the property is located.
FHA's nationwide basic mortgage limits ("the floor") for a
fourplex:
and up to FHA maximum loan ceiling in high-cost* area's for fourplex
is:
FHA will finance a purchase loan and also a mortgage refinance loan
for these types of properties.
FHA will also allow the use of some specialized down-payment
assistance programs for this type of property.
If you are looking to purchase a fourplex or need a refinance
mortgage, learn about the next step FHA Loan Qualifying
* except Alaska, Hawaii, Guam, and the Virgin Islands where
the limit is adjusted 150% to $689,953
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