Can I buy a partially commercial building with an fha loan?

[Jerry Bliss]

I know this may seem strange but then again maybe not, I found a property on loopnet with 2 commercial units downstairs and 2 1 bed 1 bath apartments upstairs. I would be planning to move into one of the two upstairs apartments. Would I be able to go fha? Could I even go conventional residential? Or would I have to get a commercial/hard money loan? Thanks in advance for your input Jerry

[Upen Patel]

@Russell Brazil Thanks for the mention.

@Jerry Bliss If the property is zoned residential (mixed use), then a residential loan (Conventional, FHA) is possible. If it is residential mixed use then its most likely setup as a Condo. It comes down to the commercial use sq ft vs residential + common area sq ft. If it is above 25% then it would make it a non-warrantable condo.

Your financing options will dependent on the specifics of the property.