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Updated almost 5 years ago, 02/14/2020
Getting stuck at the 75% on FHA quad
I am supposed to close on my first property(quad) next wednesday, but the FHA just came back and said that 75% of their evaluation of rents doesn't cover the mortgage. I am buying the place for 330000, and each unit was comped at 800 each, three one bedrooms and one two bedrooms. They had each at 800 what doesn't make sense. My guy told me I would need to get down to 200K for those numbers to work. Does anyone have experience fighting this, or finding a way around it.