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Bird, Other/Just Looking in Reno, NV

Can an investor get an FHA loan for non owner occupied property?

Asked by Bird, Reno, NV Mon Nov 29, 2010

FHA Loan for single family home non owner occupied

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Answers

6
FHA allows owner occupants only. If you are are not going to actually live there and use it for investment purposes you do take the risk of being prosecuted for mortgage fraud if you are caught. However even if you take such a risk and don't get caught, you can only have one investment property with an FHA loan because you can't possibly have more than one primary residences. Bottom line: It is not worth the risk. Wait until you have at least 25% for a down payment per the investment property minimum requirement.

Find more info here: http://fhamortgageinfo.com/
0 votes Thank Flag Link Wed Jul 22, 2015
Have a Realtor looking to buy a home for his relative on an FHA program. Does FHA finance non-owner occupied ( i.e., Investment homes )? Allan
0 votes Thank Flag Link Fri Jun 1, 2012
Have a Realtor looking to buy a home for his relative on an FHA program. Does FHA finance non-owner occupied ( i.e., Investment homes )? Allan
0 votes Thank Flag Link Fri Jun 1, 2012
Bird. Short answer: No. FHA is only for 1-4 unit owner occupied primary residences.
0 votes Thank Flag Link Fri Dec 3, 2010
The only way an investor can get a FHA mortgage is if the seller hasa FHA mortgage and they assume it. Otherwise no way.
0 votes Thank Flag Link Tue Nov 30, 2010
The only way to get FHA financing on investment property is if the owner lives in 1 unit of a 2-4 unit complex. However for a non-owner occupied single family residence, my understanding is that an FHA loan is not possible. Hope that helps!

-Akop
Web Reference: http://www.vchousehunt.com
0 votes Thank Flag Link Tue Nov 30, 2010
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