House hacking - mortgage fraud?

[Ethan Miller]

Was thinking about house hacking a fourplex that is over 60 miles away as a "vacation home" as it is in a small country town, I currently live in the heart of suburbia with no plans to move completely. Obviously first step is to be eligible for an FHA loan with this property.

Question is: After that, if I was to travel and live in one (unit A) with the other three units rented then 6 months into the year switched units I was keeping for myself to rent out after remodel then I dwell in unit B. Would this constitute as living for the full year? Since it is one property didn’t know if that would be possible.

[Katie Huynh]

FHA is primarily for owner occupied as primary home, so I don't think 'vacation' is an option. Even though the lender rep pre-approves it, there is a risk that the underwriter would turn down your loan later on. Be very transparent with your lender about your plan, they may have other options for you.