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Updated over 4 years ago on . Most recent reply

Alfredo Franco's profile image
Alfredo Franco's profile image
Alfredo Franco
  • Rental Property Investor
  • from Corpus Christi, TX
  • Member since Apr 15, 2019
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Alfredo Franco's profile image
Alfredo Franco's profile image
Alfredo Franco
  • Rental Property Investor
  • from Corpus Christi, TX
  • Member since Apr 15, 2019
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Alfredo Franco
  • Rental Property Investor
  • Corpus Christi, TX
8
Votes |
23
Posts
Land & New Construction

Fha duplex, laws and right thing to do

Alfredo Franco
  • Rental Property Investor
  • Corpus Christi, TX
Posted

If I were to purchase a duplex fha 3.5 down would I necessarily have to live live there or could I say I do and rent out both units? I currently live in a home mortgage free.

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Tim Herman's profile image
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Tim Herman
  • Member since Jul 24, 2018
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Tim Herman's profile image
Tim Herman's profile image
Tim Herman
  • Member since Jul 24, 2018
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Tim Herman
1,251
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Tim Herman
Replied

@Alfredo Franco only if you want to commit mortgage fraud. Unlikely you would get caught but if you do the penalties are up to  $1 million dollar fine and 30 years in a property you can't sell later. Find your nearest federal pen.

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