Loaning options for next purchase

[Nancy Luxama]

I am looking to purchase my second property and I am looking for the best options available to do so.

Are there any loaning options that will allow me to put 5% down on a small multi family (2-4) that I would also owner occupy?

[Nicholas Covington]

@Account Closed unless the tenant is on the title it will be considered a purchase. 

Regarding FHA doing VOR there is a strong possibility that one will be done. It depends on their profile, but FHA does ask for VORs. And since this is a lease-purchase some might consider this to be non-arms length which can pose problems as well depending on how strict the underwriter is.

FHA does allow 1 30 days late on a payment.