Can an FHA loan be use to purchase a 15 unit property??

[Jeff Chapz]

Hello team, we submitted an LOI about 3 weeks ago on a multi family (15 units) property and we heard from the seller last night. He gave us a reasonable price and my wife and I would like to move forward. However, we would like to know if we can get an FHA loan to buy this property. We are willing to move and live there for a year or more as long as we get the 3.5% for down payment. Can someone tell me if that option is available for us? or if there other similar options for us to put down very little in order to aquire this property?

If the option to buy on my own is available... I want to try that first before raising money. Please let me know. I thank you in advance.

[Carlos Flores]

Technically there are FHA programs for 5+ units but not the kind you're thinking of. This deal is likely a bank loan if the loan amount if under $1M.