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Updated about 7 years ago,

Account Closed
  • Phoenix, AZ
0
Votes |
4
Posts

FHA parameters with househacking

Account Closed
  • Phoenix, AZ
Posted

As far as utilizing the house hack method I have a few questions. Two years ago I purchased a Town home, as my primary residence in Phoenix AZ, with a conventional loan. I have been renting out the rooms without a formal lease to a friend and my sister. I am now currently looking to utilize an FHA loan to acquire a multifamily property. I plan on using the equity built in the SFH as a down payment. My question are as follow.

1) Is this possible?

2)Has this ever been done before?

3) What are the odds of the under writer allowing this?

4) I know this is very vague, what other information is this relevant to the situation.

5)What other questions should I be asking.

Thank you very much for your feedback.