Frank McGovern
Lender Saying Can Avoid FHA Self-Sufficiency Test
Hey all,
I'm curious what may be happening here and how this could ever be possible. I don't believe it, but just wanting to see if there is any legitimacy to this and if it's ever happened.
Properties would be a 3-...
Cory Berg
FHA Self Sufficiency Test for 3/4 Units
I am currently trying to buy my first House Hack in Houston, TX. But i'm having trouble finding a property that meets the self sufficiency test where 75% of the total market rent has to cover the entire mortgage. Is a...
Kris Pisacane
Property Under Contract and FHA Self Sufficiency Test Failed
Hey everyone,
I currently have my first property under contract in Philadelphia. This is a 4 unit property that I am using an FHA loan to purchase with 5% down. The house is set to close this Friday and I just rece...
Seth Tate
House hack fourplex - FHA Loan self sufficiency test Austin
Searching for a fourplex to house hack in south Austin, TX with an FHA loan. Struggling to find anything in my market that will pass the self sufficiency test using an FHA loan with 3.5-10% down. I’ve been looking for...
Vidyadhar R.
FHA lender who do not require self-sufficiency test?
Dear members, when I reached out to a lender in regards to purchasing a 3 unit MF in NJ, he ran numbers and responded that it won't pass self-sufficiency test. Is self-sufficiency rule mandatory for all FHA loans for ...
Joseph Mosby III
I'm looking to seller finance self-sufficient apartment complex
So, I'm looking to obtain an apartment complex that recently went back on the market, and I feel seller financing is my only option towards ownership at this point. On smaller properties (4 family) I've tried hard mon...
Nash Mittelman
FHA loans and the deal killing self sufficiency test
I'm a real estate agent in the bay area and have found that three and four-unit buildings with FHA loans don't ever pencil out because of the "self-sufficiency test". I'm wondering if (and where) agents or investors h...
Tina Jenkins
FHA ?? Rules Something I just learned and want to share!!
Something I learned today!{Three to Four Unit: A three- to four-unit property is a Single Family residential property with three to four individual dwellings. The mortgage must obtain a completed form HUD-92561 (Bor...
Steven DeMarco
Help with deal analysis on house hacking into a fourplex
Hello everyone - wanted some help fleshing out my thoughts on this deal analysis for a fourplex in Utah. I'd be owner occupying one of the four units and using an FHA 3.5% down loan. Also, I may have the option to get...
B Ryans
Multi Unit DC Anacostia DC house hacking
Currently considering purchasing a multi unit property in DC to house hack. With tough competition I’m looking at H st NE but seriously intrigued with Anacostia. With upcoming renovation projects curious to thoughts...