FHA Construction for a house hack?

[Richard S Myers]

I have a few questions that I figured would be answered relatively quickly here.

I understand the basics of an FHA loan, 3.5% down, must live in one of the units, must live there for at least a year, etc.

My question is, if I can’t find a fourplex for a decent price, would it be viable, or even permitted to construct a building under those terms?

Thank you

Richard M

[Greg Dickerson]

Construction loans require 20-25% down and FHA requires a lot of detailed paperwork from the builder so you will need one who is familiar with the process.

Best thing to do is discuss with your lender and go from there.