FHA Multifamily Owner Occupied Financing Options?

[Andre Lamar]

I am looking to purchase my first property and am interested in an owner-occupied four suite apartment. I have been reaching out to some well-known companies (i.e., Quicken Loans, Navy Federal Credit Union, and USAA) and am getting conflicting information. None of these companies have an FHA product for multi-family homes, and the Conventional Mortgage products offered by one servicer can only be used for a duplex.

I would like to know if FHA first-time homebuyer loans can still be used for multi-family owner-occupied 4-unit properties? I'm being told that the laws have changed and I can't seem to find a specific direct answer online.

Thank you!

[Wayne Brooks]

Yes fha loans are for up to 4 units, owner occupied one unit. FYI, Quicken is the absolute worst loan company to get loan from and most agents won’t accept a preapproval from them. 

Best best is a local lender. The big banks offer these but they often have extra overlays/requirements.