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Updated about 3 years ago on . Most recent reply

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30
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33
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Nick Sansivero
  • Rental Property Investor
  • Glen Cove, NY
33
Votes |
30
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Is there a new rule for buying 2-4 units with FHA?

Nick Sansivero
  • Rental Property Investor
  • Glen Cove, NY
Posted

Hey everyone, I'm currently considering a house hack in Columbus, OH, and I just spoke to a (highly-rated) realtor regarding my options for FHA financing. I was told that as of last year FHA no longer offers financing for 3-4 units at 3.5% down. I was only able to get pre-approved for a 1-2 unit property because of this.

Is this accurate? I might just be uninformed, but I hadn't heard anything about this. Thanks!

Most Popular Reply

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1,450
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1,962
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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
1,962
Votes |
1,450
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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
Replied

@Nick Sansivero
This is incorrect you were misinformed by your lender. I brokered a 4-unit recently with FHA here in Columbus OH with no problems. I would look at getting a new lender. If you need any lender recommendations, DM me more than happy to send some good ones your way!

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