FHA and intent to occupy requirement

[Kris L.]

So I had an idea and was interested if it is remotely feasible. Am considering using FHA loan to buy 4 plex but don't really want to live in it (unit too small for my family). I realize there is an intent to occupy clause and don't want to be dishonest on that, but is occupy the same as actually living there, or can I use it as an office/storage unit to meet that requirement?

[Chris Mason]

Your head needs to be sleeping on a pillow in that unit for a plurality of the nights in that first year. That's the most liberal interpretation. A more common interpretation is majority, not just plurality. In reality you'd need a lawyer to truly navigate this. But, odds are you are barking up the wrong tree.