Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago on . Most recent reply
USDA Loan for multifamilies?
Hi there,
Does anyone know if you can use a USDA loan to buy a multifamily in MA? I am looking to buy a property in the coming months out side of Worcester and have been getting mixed responses on whether you can buy a multifamily using that particular loan? I've heard yes and I've heard no. I do plan to occupy the home for now!
Please let me know!
Most Popular Reply
No, No and No. There can be no income producing attributes to the home for USDA Guarantee or Direct (from a lender or straight from USDA). USDA will not even allow an official "in-law" apartment in a single family.
FHA or MASSHOUSING for an owner occupied multi family is the way you are gonna have to go (3% down or 3.5%).