FHA Loan Eligibility/Requirements

[Daniel Patton]

Hello, I've read about using an FHA loan to purchase my first multiplex investment property in which I would rent out one of the units and live in the other. My questions are:

1. Can you use an FHA loan and have the owner be your LLC so you can protect yourself?

2. How long would I have live in one of the units until I could move out and full rent both (per any FHA rules for owner-occ vs investment property eligibility)?

3. Can you only take out one FHA loan at a time?

4. Are there any requirements if I wanted to refinance the FHA loan with a conventional, non-FHA loan at some point?

5. Are there any other stipulations/fine print that I should be aware of regarding FHA loans?

Thanks in advance BP!

[Wayne Brooks]

1 no

2 1 year

3 yes, generally

4 no, but LTV would be based on owner occupied verses not

5 probably