questions about FHA 203k loan

[Account Closed]

Hello BP,

I am a newbie looking into getting a triplex multifamily property. I currently live in IN, but looking to buy property in Chicago, IL. Should I look for lenders in IN for a FHA 203K loan or in Chicago? How should I go about finding a lender and what other advice or guidance would you give on the situation?

[Syed Lateef]

Guaranteed Rate does FHA 203K loans. Keep in mind if your doing an FHA loan their are owner occupancy requirements. You must live in the property. So if your intent is to move to Chicago from Indiana to live int he property you are rehabbing, then you should do that type of loan