Duplex but has 3 units FHA loan

[Jose Perez]

Im trying to purchase my first rental property with an FHA loan, but the property Im looking at is a Duplex on paper.. but has 3 units(the owner hasn't done the paperwork for the legal 3rd unit. The price is about 80,000 above the max amount i can borrow with an FHA based on it being a duplex, if it was a triplex I would be able to get the loan. Does anybody have some suggestion or creative ways of negotiating with the seller for me to take advantage of the 3.5% down?

[Kevin Sobilo]

@Jose Perez, I wouldn't be creative here. I would be prudent. 

It sounds like you need to get the 3rd unit approved. So, do that as part of the sale. Make the sales contract contingent upon you're applying and getting that approval. This way when you close you don't have any risk of being rejected. You know what you are getting before the ink dries on the deed and you'll get the financing you want.