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Updated over 1 year ago,

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8
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Issues with getting an FHA loan

Posted

I currently live in Massachusetts and own a 2 bed 2 bath 1300 SqFt condo in Boston. I'm trying to house hack a triplex in Boston as my next venture. On the bp podcast and pretty much all over social media, house hacking is portrayed as very simple to get an FHA loan at 3.5%.

For some reason the lenders I've spoke to are making it seem like that's not the case and I wouldn't qualify with some of the triplex's I'm looking to live in 1 unit and rent the other two units. I'm also looking to rent my south Boston unit as well that I'm currently living in when I can get into a triplex. I've researched all of the FHA guidelines like credit score, dti ratio, house quality, county FHA cost limits, etc and I'm good in all of those areas. Do you know why people are telling me the FHA wouldn't work in my case?

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