FHA Fourplex Home Loan
FHA Loans for a 4 unit home requires only 3.5% down payment. Benefactors will have rental income from the rest three units on the property which could assist buyer for qualifying. Borrower is required to live in property as per laid down FHA loan qualifications.
This program doesn’t impose a max sales price but a max loan amount is held on this fourplexes based on the state and county the property is located. FHA sets basic mortgage limits for four housing units at $521,250 and $1,202,925 if such property is located in a high cost area.
Existing homeowners can refinance up to 96.5% of the value of the property. Intending owners will seek FHA assistance to purchase this property. Borrowers are allowed to seek further assistance from accredited down payment assistance programs.
Find the right FHA loan for you at Texas FHA Loans. See FHA Loan Qualifications here.
