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All Forum Posts by: John Winters

John Winters has started 5 posts and replied 11 times.

Greetings All ~ Thank you in advance for any support with this.  

I've been looking for a 3-4 unit multi-family to purchase with an FHA loan (or FHA203 if needed). While searching, I found a 5-unit property that is of interest. I know the types of FHA loans I plan to use are limited to 4-units max. At this particular property I would live in a 1-bdrm unit on the third (top) floor.

***There's a small unit with a separate entrance on the first floor (rear).  To qualify this property for FHA lending with 4-units max, can I simply use this unit as my personal, at-home office - even if it is not attached to the unit in which I will live?  

Does anyone have any ideas/experience with getting this to qualify for the FHA financing?  I would actually like/want office space, but I may convert it back to a unit later, even if years later.

I'm in Philadelphia, PA.  I've heard of people turning one unit into storage too.  I'm open to ideas, I just want to be confident it will work before moving forward with the process.

Thanks again for any help.