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Updated over 7 years ago on . Most recent reply

FHA loan on duplex w/ both units rented until January, possible?
Just as the title says, I'm looking at a possible first property (constructed as a duplex, but I believe legally it's a single family home due to one mailing address, connected utilities, and I believe zoned as such) and I am trying to figure out all the details I'll need to know to get it purchased.
Basically Both units are being rented for $750/month all utilities included until January. I know I am not going to renew the current leases when the time comes, but until then I have no way to "owner occupy" the home since both units are currently rented. Is it possible to get the FHA loan in this situation?
Most Popular Reply

i believe fha requirements state you must intend to owner occupy within 90 days or something like that. wheb you factor in closing time, i would guess you have more than enough time