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All Forum Posts by: Joshua Rawe

Joshua Rawe has started 1 posts and replied 1 times.

Multi-Family and Apartment Investing

Post: FHA 203K in Chicago - Agent Says it's a No Go on Multi Unit

Joshua RawePosted
  • New to Real Estate
  • Chicago, IL
  • Posts 1
  • Votes 0

Hi All,

Pre-approved by lender for 3.5 down on FHA. Shopping for a house hack 2 unit in Chicago. Want to do low down payment and maybe 203k loan. Lender suggested it and was fine with it.

However, my current agent says no multi units will pass FHA inspection. Agent says they don't want to do an FHA deal. Current agent comes recommended and experienced.

Is their assessment accurate? Or do they just want to avoid extra work? Understandable if so, however, I don't want to jump to conventional if I don't have to.

Thanks!

0 Votes