FHA Loans - FHA Fourplex Loans (4 unit)
There is a FHA Loan Program that will finance or to refinance up to 96.5% of the total mortgage of a triplex property. This FHA loan program will credit you as much as 75% of the future rental income for the attached or second unit of this type of property.
As in all FHA home loan programs, you must be an active occupant in the property for at least one year. This means that you must be a resident in one of the units in this type of property. There are no restrictions on the total price of the property; however, the requested loan amount cant exceed the maximum FHA Loan Limits for your area and for this type of property.
With fourplex real estate, this FHA loan program will allow you to use portions of down payment assistance programs to help you with your costs.
The FHA national wide maximum for a triple unit home financing in high cost areas is $1,403,400. This may be subject to change depending on your location so Contact Us for more information.
