FHA Loan for duplex - quad in SC

[Justin Hunt]

2 part question: My brother lives in South Carolina in the Greenville area. He is interested in using a FHA loan to purchase a home and is looking at duplex - quad. My understanding is FHA loan covers through 4-plex, correct? Also, he would be using my credit (since he quite literally has none) and having me as a co-owner on the deal. Still valid under FHA? Second part to SC investors. As long as he lives there, does the tax stay the owner occupied rate for the entire unit or will they tax units separately? I still remember the first time I moved out and rented my primary. Triple the tax the next year...

[Chad Hensel]

As long as the owner is an occupant, the full quad will be taxed at the 4% rate. FHA will cover up to a quad under a normal loan.