FHA loan for duplex investment?
Me and my best friend are planning to purchase a duplex as an investment property. My current home is on an FHA loan while my friend rents a pad. Can we finance a new FHA loan since I already have one? by rasca704 from Georgetown, Kentucky. Jan 12th 2022
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
NO, FHA is an owner occupied home, and one loan at a time program. If one of you planned on living in the property, then Yes, especially if just the friend without the FHA loan were to be the occupant. But as a straight up investment property, FHA will not work. I lend for properties in MN WI IA SD ND. Find me at Rocherster-Mortgage.net - Cambria Mortgage, NMLS 274132
Ask our community a question.
Get an answer
Related Questions
