The short answer is yes, an enthusiastic FHA-insured real estate loan are often used to purchase a great duplex property, as long as you satisfy a number of key criteria.

Perhaps one of the most very important requirements is due to manager occupancy. Typically, the person purchasing the home need to live in that device, so you’re able to play with a keen FHA mortgage buying a good duplex. The fresh debtor also needs to make an advance payment with a minimum of step three.5% of one’s price otherwise appraised worth.

For people who meet the lowest qualifications standards toward system, while decide to inhabit one of the equipment off the property, you need to use an enthusiastic FHA loan to get a great duplex multifamily home.

We discussed the master occupancy problem already. Owner-occupants who wish to get an effective duplex home you’ll be eligible for FHA otherwise antique capital. But an investor who does not intend to are now living in the fresh new house is normally restricted to antique resource.

Right down to such requirements, those who pick duplex belongings having fun with FHA financing usually propose to live in one of many systems and you can rent another. So the multifamily household fundamentally will get a house in addition to an investment property. Read more