x
We research, you save.
Bookmark

Is there a cap on the number of properties you can go with FHA?

I'm looking to get a second and third property to rent out to family with little money down.
By pottsdamr0827832 from CT Feb 18th 2014
Reply

FHA is intended for owner occupied properties only.. they are not intended for investments.. under most circumstances, your only allowed one FHA loan at a time.. Investor financing carries a higher risk, therefore offers Lower Loan to Value restrictions and usually comes with a higher interest rate.. 20% is the minimum down payment required, however 25% or more is preferred.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Feb 18th 2014

Yes for the most part only one FHA loan per person, extenuating circumstances on letting you have two FHA loans, but one is not for investment properties. I am a lender in CT if you need any further assistance please call me at 203-400-6288

Feb 19th 2014

Didn't find the answer you wanted? Ask one of your own.

Get an answer


Compare Lowest Mortgage Rates

$