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Updated about 6 years ago,

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13
Posts
2
Votes
Brendon Seiffert
Pro Member
2
Votes |
13
Posts

FHA self sufficiency question

Brendon Seiffert
Pro Member
Posted

Could someone help explain the self sufficiency rule with FHA loans? Looking for a clearer answer and the lady at the bank isn't quite sure and is waiting to hear from her under writers, which won't be till tomorrow.

Right now looking at a triplex with a estimated payment of $1779.52. Since it'll be an FHA loan I'll need to live in one unit. The other two units rent for $800 a month, for a total of $1600.

Does this mean it does not pass the self sufficiency test? Even though if I wasn’t living there I’d be able to rent the entire thing and cash flow it a few hundred a month?

  • Brendon Seiffert
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