Can I buy a multi-family home with an FHA loan?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Yes. FHA finances two-to-four-unit properties with just 3.5% down, as long as you live in one unit as your primary residence. It's the classic house-hacking strategy.
The rent from the other units can help you qualify, and FHA even lets projected rent count toward income. We'll structure a Florida duplex or fourplex purchase so the tenants help cover your mortgage.
Up to four units
Yes. FHA lets you buy a two, three, or four-unit property with the same low 3.5% down, as long as you live in one of the units as your primary home. It is one of the best ways to start investing.
You can rent the other units and let that income help cover your mortgage. This strategy is called house hacking, and FHA makes it affordable.
Using rental income to qualify
FHA often lets you count a portion of the projected rent from the other units to help you qualify. That can boost the price you can afford.
Florida has strong rental demand in many markets, which makes multi-family a smart play. Apply now and we will run the numbers on a two-to-four unit purchase for you.