Can I qualify for an FHA ?

If you are buying it as an investment property, you will not qualify for an FHA loan. If it is not going to be your primary residence, then buying it and declaring such would be fraud. If you have a spouse who will occupy it, then that would be acceptable, but otherwise you were given incorrect information. Gregorio Denny --- WeFixRates.Com

FHA can only be used for owner occupied purchases. I don't know who gave you the advice but maybe he meant something entirely different. If you would like to own a home in another state and you will not live there, you can do this by being a non-occupant co-borrower. This would mean if you have a family member that wants to purchase a home in another state with you but you decide to not live there, this may be fine. Otherwise, you would have to qualify for a non-owner occupant loan. Hope this helps.

FHA does not allow Non-Owner Occupied purchases. You can be the co-borrower on the loan if an immediate family member can be the borrower & will occupy the residence. If you're looking to purchase an investment property, you'll have to go Conventional which typically requires at least 25% down. If I can be of any further assistance, please call. Todd ThollSr. LO, CMCMain Street Financial563-324-9937