Financing options for Multifamily House Hack | FHA/Fannie Mae/LLC

[Tim Tyrrell]

I'm looking at the FHA and Fannie Mae loans for a quadplex in St. Petersburg. I would qualify for the FHA loan or the Fannie Mae loan as an individual. I have around 20K to put down myself along with another 60K from two independent investors, one family member and one friend, if necessary.

I'm wondering if it's possible to take advantage of the 3.5% FHA loan as an LLC that I create as a partnership with my investors, or if the loan needs to be in my name to qualify for the FHA loan? This would be my first home purchase, and I would move into one of the units after purchasing.

I don't see a reason why the 5% Fannie Mae loan would have issues with our LLC, but please correct me if I'm wrong.

If we can qualify for either loan as an LLC, is there one that you would prefer over the other? I read this post by Andrew Postell, so I'm aware of the basic differences re self sufficient/funding fee/MPI/etc -- but I wonder if there is another lens to view these loans through when there's a team of investors considering them. Appreciate the help and happy hunting!