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Updated over 1 year ago on . Most recent reply
FHA multifamily for daughter
Can I purchase a 2 unit home with FHA financing if my 18byear old daughter will ve living there? If so, what are some of the requirements?
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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Lender
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- Fort Worth, TX
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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Lender
Pro Member
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- Fort Worth, TX
@Bill Roberts they way you are stating it you would not be able to use an FHA loan. However, if SHE were to buy the property and use you as a co-signor, that is allowed...but there are some important restrictions. A conventional loan might be better suited for her but I would certainly recommend to speak with a loan officer right away about this. Your credit, income, assets, scenario, etc. and HERS would all affect how this would work. Better to just speak with a lender directly.