Financing a 4-plex, zoned commercial.

[Nick Rutkowski]

I found a 4-plex close to where I live and I'd like to purchase it with the least amount of my money (of course). It needs work, its a foreclosed property, and it's owned by HUD. The issue is, the property is zoned commercial. I called FHA and they said they would allow the property to be funded on a FHA as long as 51% of the property is used as residential and it's owner occupant. (Score.) Now my question is: Does anyone know a lender who would do FHA on a mixed use?

I know I could do a commercial loan for 20-25% or buy it all cash but I'd rather try this way since FHA said it was possible. Why not? So I'm reaching out to BP in hopes someone else has tried this and was successful.