FHA Loans - FHA Fourplex (4-Unit) Mortgage Loan

FHA will finance a 4 unit home with only 3.5% 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:

* $521,250

and up to FHA maximum loan ceiling in high-cost* area's for fourplex is:

* $1,202,925

FHA will finance a purchase loan and also a 4 unit FHA mortgage refinance up to 96.5% of the value of the four unit property.

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 stepra.gif (855 bytes)FHA Loan Qualifying

* except Alaska, Hawaii, Guam, and the Virgin Islands where the limit is adjusted 150% to $1,804,387

FHA Loans - FHA Fourplex (4-Unit) Mortgage Loan

FHA will finance a 4 unit home with only 3.5% 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:

* $521,250

and up to FHA maximum loan ceiling in high-cost* area's for fourplex is:

* $1,202,925

FHA will finance a purchase loan and also a 4 unit FHA mortgage refinance up to 96.5% of the value of the four unit property.

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 $1,804,387

 

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