Can I buy a triplex with an FHA loan through an LLC?

[Franco Urbaez]

Hey everyone,

Thanks again in advance for the feedback. I am curious if I can buy a multi-family property with an FHA loan through my LLC?

I am already a home-owner and purchased my first home with an FHA loan. Starting off my business I wanted to protect my assets so I formed an LLC to buy my properties through. There is a property I'm interested in that will provide me with significant cash flow but don't have the entire capital needed for a conventional loan.

If anyone has any experience with this, please let me know how it worked out for you.  Thank you!

[Stuart Birdsong]

@Franco Urbaez You can buy a triplex with an FHA loan so long as you occupy one of the units. You cannot purchase it with your LLC, as Conventional, FHA, VA or any loan that is sold to Fannie and Freddie will not allow this. I believe you can only have one FHA loan at a time, so if your first loan was an FHA loan, you will have to refi to conventional or buy your next property as a conventional loan. If you intend to occupy the property, you can still do a conventional with 5% down, although I believe they are now offering conventional loans at 3.5% down so long as you fit in the box, credit score, DTI etc... So there are options other than FHA that allow you low down payment purchase capability. But you must occupy the property. Hope this helps