FHA will finance a 4 unit home with only 3.5% down. The rental income of the 3 remaining units is calculated as income and assists buyer for qualifying. Like all FHA home loans this is for owner occupied homes only meaning you will need to live in the property.
There is no maximum sales price but there is a maximum loan amount for this type of property. The actual maximum loan amount will depend what state and county the property is located.
FHA's nationwide basic mortgage limits ("the floor") for a fourplex:
and up to FHA maximum loan ceiling in high-cost* area's for fourplex is:
Has anyone here done this? What was you experience?