MultiFamily Purchase under FHA in Los Angeles

[Bryson Scott]

Hi all!

I am currently looking for financing under fha for my second multi family property.

I’ve spoken to a direct lender and a broker who gave me the following responses:

The direct lender said: I need to find a property that I will occupy and the remaining units’ rent must cover 75% of the mortgage.

The broker said: because I purchased a property under fha in 2017 (which now is under a conventional loan) I can not use fha for another property.

Did the whole industry change last night? Or am I missing something?

Any advise is greatly appreciated.