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Updated over 5 years ago,
FHA minimum owner occupancy ratio
Hey BP Community,
I am a new Real Estate Investor trying to buy my first property but I keep running into the same problem. Every time I want to make an offer on a condo my realtor says I am not allowed to due to the FHA minimum owner occupancy ratio. This basically means that I cant receive a Loan from a bank if more than 50% of the units in the complex are already being rented out.
My question is do you guys know a way around this rule? Are there any other loans that I could use to start buying properties that dont meet the FHA minimum owner occupancy ratio? Thanks for the help!