FHA on a 4-unit with a storefront

[Sebastian E.]

Can someone give me guidance as to whether it is possible to finance a 4 unit building that is zoned commercial but is being primarily used as residential? The property in question has 3 apartments and a storefront and is zoned commercial. Any guidance on this would be most appreciated.

[Max T.]

Pretty sure that the only way you can get a FHA or conventional owner occ. loan would be if you are

1. going to live in one of the units

2. going to run a business from the commercial unit

3. can show on 2 years of tax returns your experience running such business

At least that is what I remember when I looked into this a few years ago.

@Upen Patel

@Upen Patel?