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Can I get a FHA loan for a multi-unit property? It's 6 attached units, and I will be living in one of them and renting out the others.

by crystal357 from Newport, New Jersey. Jun 28th 2016 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

NO.. you can only use FHA (or any conforming loan) for 1-4 unit properties.. For 6 units, you need to get commercial financing.. expect 25% or more down and higher interest rates and fees.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 NMLS# 226347

Jun 28th 2016
Carlos Figueira (carlosfigueira)
#108 ranked lender in New Jersey - 199 contributions

No, FHA is for 1-4 unit properties. You have to secure a commercial loan. Good Luck.

Jun 28th 2016
Scott Fix (ScottFix)
#1347 ranked lender in California - 184 contributions

William and Carlos are absolutely correct. 1-4 unit only. Search out a different multi-unit property or search for a loan to accommodate such a purchase. Be aware, you will likely have to come up with a much larger down payment for a larger multi-unit property, so scaling back to a 1-4 unit property might be your best option. Scott.

Jun 29th 2016
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