How Acquiring a Quadplex will effect my Single Family Home

[Cambri McCoy]

Hi, I’m Cambri McCoy! I am a new BP Pro Member but loving the information I’ve been receiving over the last month without even being a member.

My husband and I have 3 units (a single family in my name (FHA but no longer paying PMI) and a duplex in his name under a VA loan). We house hacked the duplex for the first year and no longer live there. All units are rented. For our personal lives, we are in the process of purchasing land. We plan to pay it off in a year and start building early 2024 then begin mortgage payments in 2025.

My question: How will the purchase of a Multifamily unit in my name this upcoming year (2023) affect my husbands purchasing power of our construction/single family home through the VA in 2024/2025?