Multiple Parcel with 203K FHA

[George Turner]

Hi All,

I am working on a potential deal in the Columbus Ohio area. It's a gutted duplex with a continuous parcel behind it that has plans for a carriage house. Both are INDIVIDUALLY listed. My question is can I use a 203K FHA to buy and rehab both parcels under one loan? I've read a bit about how the FHA distinguishes between "excess land" and "surplus land"...I think this would fall into the "surplus" category since the land with carriage plans cannot be sold separately but I am unsure of the 203K portion and the fact the carriage house is not built yet. Figured this forum is a good place to start.

Any tips or point in the right direction would be greatly appreciated! I plan to speak with a broker once I am a bit more familiar with this use case.

[Robert Ellis]

Originally posted by @George Turner:

Hi All,

I am working on a potential deal in the Columbus Ohio area. It's a gutted duplex with a continuous parcel behind it that has plans for a carriage house. Both are INDIVIDUALLY listed. My question is can I use a 203K FHA to buy and rehab both parcels under one loan? I've read a bit about how the FHA distinguishes between "excess land" and "surplus land"...I think this would fall into the "surplus" category since the land with carriage plans cannot be sold separately but I am unsure of the 203K portion and the fact the carriage house is not built yet. Figured this forum is a good place to start.

Any tips or point in the right direction would be greatly appreciated! I plan to speak with a broker once I am a bit more familiar with this use case.

 you can't buy multiple parcels with it. not with a 203k. i've tried before with a client in columbus oh