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Updated almost 7 years ago on . Most recent reply
FHA question regarding multiple homes
I have found a listing that consists of 4 homes, all on the same street and neighboring lots, (all on one survey) that are listed for sale at 560,000.
I know with FHA you can invest in up to a 4 Unit property, but I’m wondering if this would be considered 4 units? They are all on the same survey legally, and as a result cannot be individually sold without re-doing the survey.
I can afford 3.5 percent down, not 20 percent, is the reason I ask. They will still cash flow well after the additional costs of a FHA loan.
Thanks for any input and advice
Most Popular Reply
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Wayne Brooks
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If they are all on the same Parcel-legal description/tax ID number, then yes. Being on one “survey” may not mean anything.