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FHA Multi-Family Home Buyer Program

The Federal Housing Administration (FHA) Multi-Family Home Buyer Program is an excellent opportunity for individuals seeking to purchase properties with two to four units.

Designed to encourage affordable housing and expand homeownership opportunities, this program offers flexible guidelines and low down payment requirements.

Program Features:

  • Low Down Payment Programs
  • Credit History Leniency  
  • Lower Interest Rates
  • Shorter Time to Qualify
  • Low (or No) Closing Costs
  • Co-Borrower Acceptance

Through the FHA program, buyers can finance a property with as little as 3.5% down, provided they meet credit and income eligibility criteria. One unique advantage of this program is that buyers can live in one of the units while renting out the others. The rental income can help offset the mortgage payments, making homeownership more affordable.

Another key feature of the program is its lenient credit requirements. Buyers with credit scores as low as 580 may qualify for the minimum down payment, and those with scores between 500 and 579 may still qualify with a higher down payment. Additionally, the FHA allows the use of gift funds and down payment assistance programs to meet initial costs.

FHA loans for multi-family homes have specific property standards to ensure safety and habitability. Overall, this program offers a pathway to invest in real estate while securing long-term financial benefits.

 The important step in purchasing an investment property is to get an FHA Pre-Approval Letter for a home loan. The peace of mind that comes with knowing that your mortgage loan has been approved will allow you to shop for your new home with confidence. And when you are ready to make an offer, the fact that you have already been pre-approved for your loan amount will give any Real Estate Agent or Seller confidence in you as a buyer.

Ready to apply?

No Obligation – Same Day Approval

About the FHA

FHA loans have been helping borrowers since 1934. Its primary function is to provide insurance for mortgages originated by private lenders for various types of properties, including single-family homes, multifamily rental properties.

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