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Updated over 7 years ago on . Most recent reply
Can an FHA loan be used...
I have a question. I was told by a Texas real estate agent that if I used an FHA loan to purchase a duplex, triplex, or 4-plex that I intended to occupy that I could not collect any rent money from other units because that wold be considered mortgage fraud because FHA loan can not be used for investments. Can someone tell me if this is true. Thanks
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Wayne Brooks
#1 Foreclosures Contributor
#1 Foreclosures Contributor
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- West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
Your agent is an idiot. The intent for an owner occupied 2-4 unit is for you to live in one unit and collect rent from the others. SMH.