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Updated over 6 years ago on . Most recent reply
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FHA mix used propeti
I want to thank you on front BP community .I'm trying to purchase a mixed-use property using a FHA loan these are the details on the property the property has three Apartments and one commercial space which I believe is less than 49% of the residential part of the property.I was Told by one lender that yes I can buy this property because is less then 5 unit. Then I was told by another lender then no I cannot buy this property with a FHA because FHA guidelines are that I could only purchase a mix used property if it's at single dwelling with a commercial space attached to it that is less than 49% of the residential part other property. Looking on the internet and I don't seem to find any information about this the only thing that I seem to find is that he has to be less them fight units in the commercial part of the property has to be 49%.
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- Real Estate Professional
- West Palm Beach, FL
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1) Go to fha’s site
2) believe whatever @Chris Mason says