Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 1 year ago,
Loan Limits on - FHA "Kiddie condo And/or Family opportunity Mortgages?
I currently reside in Texas and own my single-family primary residence. In addition, I own 1 condo and 1 SFR each of which was purchased as "owner-occupied" SFRs because I house my father in one and my mother-in-law in the other and I qualify for the mortgages independently. They were purchased as FHA loans (I believe as family opportunity mortgages?)
I now have a Son who has moved to Oregon and I am interested in financing a "kiddie condo" as an owner-occupied SFR or Duplex for him to live in.
Question #1 - Any issue qualifying for this additional OO SFR via the kiddie condo program in Oregon with two other FHA family loans in tow?
Separate Scenario
Question #2 - If I were to want to move my Father out of the current SFR and move him out of state, could I buy under the same program? He hates the Texas heat and also desires/needs a lower cost of living. We are thinking of Wichita Kansas...
There should be no issue qualifying relative to DTI, credit, etc. But please call out anything to be aware of there...
First post here...thanks for the help:)