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Updated over 7 years ago,
FHA Loan Question - Need guidance!
Here is my situation: Currently looking at a 4-unit deal, the property meets all necessary qualifications for the FHA program and I meet the requirements for the loan. Assume that all numbers work and the deal is a slam-dunk from a financing perspective. Is there a way I can still get the loan without living in one of the four units from day 1 (leaving one of the four units vacant and renting elsewhere)? Perhaps still listing my address as the FHA property but choosing to live elsewhere for the first year? I work about 50 minutes from the subject project so the commute is still realistic.
Thank you in advance. I really appreciate any advice!