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Updated over 4 years ago,
FHA Loan for a duplex
Hey everyone,
Does anyone have experience using an FHA loan on a duplex? I am in the process of obtaining my first house and I ran into a problem. The house is in pretty good condition and I think I would be approved for the FHA after I added a couple of railings and fixed a window. However the roof on the detached garage in the back was recommended to be replaced during the inspection.
I know the process for the FHA loan is a pain, but right now it's the only option because the down payment jumps up to 15% for a duplex on a conventional. The house is a homerun based on the numbers so I am trying to make it work.
Does anyone have any information on using an FHA loan for a duplex? I thought I heard once that as long as one side of the house is in livable condition I would be ok, but I am not sure if the garage would be included in this. Any information helps!