FHA Loans - Triplex/Quadplex

[Kyle M.]

I applied online to get pre-approved for an FHA loan on a triplex. I filled out a form through Quickenloans and the representative called me 30 seconds later. I was told that FHA loans work for duplex's, however they do not work on triplex's and above. She also told me that the minimum down-payment on these type of properties were 25%. I did not even get to the point were she asked for my social security number, income, nor did she check my credit.

So BiggerPockets, is this the norm or do various lenders handle these issues differently?

[Kyle M.]

this is the sorta thing that quicken loans said to me. I don't think these companies are too keen on these types of investments. They said I could do FHA 3.5% for duplex, but 25% down for triplex or quadplex. But I'm new at this maybe someone else could explain it better.

My personal process to get pre-approved for an FHA on a quadplex included contacting a RE agent that specializes in working with investors. He hooked me up with a mortgage guy who approved me for a good rate putting 3.5% down on the property. You just got to shop around because different lenders have different policies.