Question Details

Jeremy R, Other/Just Looking in Redondo Beach, CA

FHA condo loans

Asked by Jeremy R, Redondo Beach, CA Thu Oct 9, 2008

Is FHA possible for a 2 unit building?

According to http://www.fha.com/condominium.cfm its not!

"The building must contain at least four dwelling units and can be comprised of detached and semidetached units, row houses, walkups, or an elevator structure."

http://www.fha.com is not the formal hud government agency and technically has no official say. The formal hud government website does not explicitly mention this rule.

So, is this fact?

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Answers

1
No. FHA will insure condos with only 2 units. Only one unit can be financed with FHA. The problem is finding an investor that will buy the paper.
0 votes Thank Flag Link Tue Dec 1, 2009
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