FHA 2-fam

As long as you intend on Occupying the home, it would not be fraud to use an FHA loan to purchase the home. As far as whether or not you can legally rent the other empty bedrooms, I believe I know the answer, but would prefer to advise you to ask an attorney. Best of Luck!

If you are truly going to live there you can rent out your other bedrooms but if you do not live there you are committing fraud. It will not be considered an investment property but any rental income you receive at all you should be reporting on your taxes. We cover NJ so call if you would like to discuss further. Michelle 201-962-3555

So long as you occupy one of the units, you are in compliance with FHA and it's not fraud or illegal.. and the IRS does require you to report all income, including rental income... 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. 480-287-5714 WilliamAcres.com

The only legal requirement is that YOU must make the home your primary residence. In a Du-Plex, Tri-Plex and 4-Plex, it is presumed that you will have tenants. In a single family home, there is no prohibition against having renters living with you, but YOU MUST live there. Even if you are collecting rent, as long as you are living there and nowhere else, it is considered your primary residence. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Give me a call and we can review this,give you answers today and any other factors on this loan Mark 800-485-1387 Extension 107. We provide FHA,VA and other loans to provide the best option for your plan.

I agree - with the Omega post.