Financing a Four Plex | 3.5% Down FHA LOAN

You can purchase 4 doors under one mortgage using a FHA loan. The minimum loan requirement is 3.5% down. As long as you're living in one unit, you can technically lease out the other 3 doors and begin cash flowing on day 1. This isn't ideal for anyone just getting into real estate, being that you would be taking on homeownership and have the responsibilities of a landlord/property manager all in one purchase. However, this is just a briefing on how financing a 4plex with a minimum down payment can be accomplished.

The goal is to collect on rent, and file taxes after the first year reflecting the income received, and depending on home values, you can revisit with the bank to see about refinancing the property from a FHA into a Conventional loan. Conventional loans offer options to pay for PMI upfront, finance it into the loan, or apply more money down in order to meet the minimum equity requirements. Seek your servicer on the loan for more details.

After equity has been established, you now have leverage on the home appreciation value to then tap into the equity to apply that towards the purchase of your step up property.

Have questions on whether you qualify for this type of financing and want to see about getting started - Send me a message

🏦𝐊𝐚𝐧𝐝𝐲 𝐊𝐚𝐭𝐳 | Loan Consultant | nmls#817938

Absolute Mortgage & Lending NMLS Branch #1910591
Licensed in: AL, AZ, AR, CA, CO, FL, GA, Il, LA, MS, MI, NJ, N & S Carolina, OH, OK, PA,TN, TX and WA. Pending: NV, VA

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬


▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

OUR PROCESS: My team and I will customize your home financing strategy so you can quickly and efficiently get the home you are looking for at the right price. Here’s how our two-step process works: First, we get you pre-approved so you know your options and what your buying power is. Next, we get you aligned with one of our top real estate partners who will help you negotiate the best deal on your home. Whether you are a first time home buyer or looking to invest in your next rental property, we have helped numerous clients over the last 20 years save thousands of dollars without spending a ton of time on the home-buying process. Ready to get started? Let's discuss your options.

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

#KandyKatz #BRRRR #HomeBuyingTips #investinginrealestate #generationalwealth

[nickjones]

Fourplexes are extremely hard to find now, and with the recent rash of inflation, the cash flow is not beneficial as it was pre-COVID.

[kalu_h]

Yes, we need more leverage on homes with this market. .-.

[SpencerCornelia]

Best way to get started with investing

[slime]

If you want real cash flow I suggest little as 10%. 20–25% is best, if possible

[deriusc.harris]

Keep putting this out beautiful. I've been looking all over for that. Someone just to come out and say it.

[trader-matt]

You can only have 10 loans at a time for 4 plexs at 3.5% down in total 40 doors for 35% down with 10 different loans or 20% to 30% down for 60 to 100 PLUS doors in texas with one loan for the price of the 10 different loans from a 4 plex

[anthonycarter]

self -sufficiency test is the biggest problem

[stanmoney]

That's only if you live in door one, what if you don't want to live in it? What if you already have a home?

[GeishaDoll]

I would totally do this except I’m not sure if I would need 2 years taxes or pay stubs can anyone please help me I want to do this so bad been thinking about it for a long time

[pierstonsalinas]

Tips on building one that is 4, 800 square feet? 2 story with 2 bed 2 bath roughly 1, 200 per unit?

[migueltrejo]

How much should I have to even think about any of this ?

[KhaliDP]

What if I’m not a first time home buyer? I own a single family home already but really leaning towards a fourplex. What’re your thoughts?

[Victoria-pxnq]

So why would I apply with FHA when that’s for residential home. You need a business for a apartment not a home buying process.

[DJ-crqb]

What if you are not a 1st time home buyer any other beneficial loans?

[EazyChat]

What are good FHA financing companies you recommend for first time??

[nancyz]

Can i use the future rent as income???

[alfredotalamantes]

Can I qualify for an FHA loan even when I currently own a 4 plex?

[robertduenas]

Is there any tricks we can use in which we can have all units occupied but I can say “I live in one of the units” ? Like make a deal with the tenant for example? Thanks!

[summertimejay]

How can I get approved if I’m broke or can’t afford a multi-family unit? Where I live, they start around $500, 000+

[aortizandrew]

Is it possible to turn the four plex into an Airbnb?