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Can I get a fha mortgage on a duplex if one side meets fha requirement and one side does not? example...one side has chip paint

by velamyu349 from Chambersburg, Pennsylvania. Dec 4th 2015 Reply


Edward Fallon (edfallon)
#93 ranked lender in Pennsylvania - 143 contributions

Yes. Use the FHA 203k, and include in the FHA required repairs in the new mortgage.Ed FallonHome Loan Consultant & Renovation DirectorUnivest Bank & Trust Co.1473 Dunwoody Drive | West Chester, PA 19380P 484.391.2057| C 610.308.9001 | F 267.519.1833 | fallone@univest.netwww.univesthomeloans.com/edfallonNMLS # 144708

Dec 7th 2015
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Jericho Cherry (Jerichocherry)
#58 ranked lender in Virginia - 1,107 contributions

Follow Edward's advice. It should work out for you.

Dec 7th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,439 contributions

Yes and NO. A standard FHA loan will require the entire house to meet FHA requirements, and this includes peeling paint on the other unit. The only way to use an FHA loan would be to either get it painted BEFORE closing, or you will have to use an FHA 203k loan to get the money to buy the house and fix it - all in one loan. Read more at http://JoeMetzler.com/203k

Dec 7th 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,788 contributions

More info needed.. Specifically, what do you mean by "Duplex".. In some areas of the country, a duplex is considered as 2 individual properties with separate lots that share a common wall, and you purchase each side individually.. in other areas of the country a duplex is one property that has 2 residences.. The later is the most common acceptable definition, and if that's the scenario with your property, then the answer is no.. If your financing a property, regardless of which lending program you are using, the entire property must meet minimum property standards.. FHA will not allow chipped paint, so if one of the units has chipped paint, it must be corrected to obtain financing.. 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 WilliamAcres.com NMLS# 226347

Dec 7th 2015
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