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Updated over 5 years ago on . Most recent reply

User Stats

29
Posts
5
Votes
Justin Bearce
  • Hampden, ME
5
Votes |
29
Posts

FHA loan on mixed residential/commercial property?

Justin Bearce
  • Hampden, ME
Posted

I recently discovered that FHA loans will allow some amount of commercial space in a property so long as it is doesn't overshadow the residence. I am looking at a live in motel situation where there is a one bedroom home with an office used as a reception area and a basement used for mixed storage and laundry. It has an additional 2 bedroom mobile home on the property and 5 motel rooms. It is situated on 5.5 acres and additionally has a 2 story garage. Is there any situation where this could be considered for an FHA loan?

Thanks in advance.

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