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Updated over 4 years ago on . Most recent reply

Jake B.'s profile image
Jake B.'s profile image
Jake B.
  • from Maynard, MA
  • Member since Feb 1, 2017
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13
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Jake B.'s profile image
Jake B.'s profile image
Jake B.
  • from Maynard, MA
  • Member since Feb 1, 2017
Connect
Jake B.
  • Maynard, MA
8
Votes |
13
Posts
Buying & Selling Real Estate

FHA Loan During COVID

Jake B.
  • Maynard, MA
Posted

Hi BP,

How would you handle purchasing a fully occupied multi family with an FHA loan during COVID? The FHA loan requires the owner to occupy one of the units for the first year of ownership. However, it's extremely difficult to remove a tenant due to COVID, and your options are reduced down to cash for keys and persuasion (unless there's criminal activity). What advice would you offer up in this situation?

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Jake B.'s profile image
Jake B.'s profile image
Jake B.
  • from Maynard, MA
  • Member since Feb 1, 2017
Connect

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13
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Votes
Jake B.'s profile image
Jake B.'s profile image
Jake B.
  • from Maynard, MA
  • Member since Feb 1, 2017
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Jake B.
  • Maynard, MA
8
Votes |
13
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Jake B.
  • Maynard, MA
Replied

@Renee Moomey, FHA can be used for residential multis (up to 4 units).

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