All Forum Posts by: Evan Morrison

Albert bui, thank you for that info. Especially that self sufficiency rule I was not aware of that one.

Jim, thank you for your reply. I am aware of this stipulation and to be honest am not interested in actually purchasing the example property I was just analyzing it as it's one of the few properties on the MLS in college station that (almost) hits the 1%rule of thumb, it would also be above FHA loan limits. Do you know if a property has a commercial unit if it's automatically not eligible for FHA? Have you ever heard of a seller and buyer working together to modify a property that doesn't comply with general FHA rules and finding a work around?

I'm looking at a property in college station Texas, it's a 4plex with a "bonus"office space on ground level. Would it be possible to get a FHA loan on a property like this? Or would it be looked at as a commercial property because it's essentially 5 units and one of them a commercial space, or is there possibly a creative way to make this work, Maybe by converting the space to be used by the tenants?