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Updated over 5 years ago on . Most recent reply

James R aduna's profile image
James R aduna's profile image
James R aduna
  • Rental Property Investor
  • from Los Angeles, CA
  • Member since Oct 8, 2019
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James R aduna's profile image
James R aduna's profile image
James R aduna
  • Rental Property Investor
  • from Los Angeles, CA
  • Member since Oct 8, 2019
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James R aduna
  • Rental Property Investor
  • Los Angeles, CA
5
Votes |
34
Posts
Buying & Selling Real Estate

Using an FHA Loan to buy out of state.

James R aduna
  • Rental Property Investor
  • Los Angeles, CA
Posted

BP Community, 

Can you please clarify for me the following question? I'm looking into possibly using an FHA Loan to purchase a 4 Unit Investment out of state. I understand should I purchase a 4-unit home I must reside in one unit to qualify for the loan. If this is the case, is it ok for me to live in my existing rental and use this unit in the 4-plex as a part time home? Thanks for your feedback! -James

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Melvin List's profile image
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Melvin List
  • Lender
  • from Tampa, FL
  • Member since Apr 7, 2016
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Melvin List's profile image
Melvin List's profile image
Melvin List
  • Lender
  • from Tampa, FL
  • Member since Apr 7, 2016
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Melvin List
  • Lender
  • Tampa, FL
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Melvin List
  • Lender
  • Tampa, FL
Replied

@James R aduna to use FHA financing this would need to be your primary home

  • Melvin List
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