FHA Duplex Home Loan
FHA Home Loans finance up to 96.5% of the home value of 2 unit duplex homes. FHA mortgages often have slacker qualification requirements allowing the benefactor receive as much as 75% rental income on the second unit. FHA loans in this aspect require homeowners to live in atleast one of both units for a minimum 12 months.
A maximum loan amount exists on this kind of property although there is no maximum sales price. The highest loan amount could depend on the location of the property with FHA’s nationwide mortgage limit for duplexes capped at $347,000, while FHA statutory cap on similar property in high cost areas is $800,775.
Benefactors may use this FHA mortgage loan to purchase property or refinance existing mortgage.
Learn more about the 3-unit and 4-unit single family homes. Use Texas FHA Loans Finder tool to discover your best options.
