Can you use projected rental income as additional income when buying an owner occupied multifamily with an FHA mortgage?

Good Morning! The Answer is YES! I'm a Massachusetts Resident and would enjoy working directly with you. There are a few other things to know about multi families with FHA, particularly when you are considering a 2 Unit compared to a 3 or 4 unit. Please send me a direct message to get more details. I'm here to help! Thank you!

Absolutely, the projected rental income can be used for qualifying purposes!

Yes. FHA will allow this as long as you are living in one of the units. Even though FHA will allow it, you should beware that not all lenders will consider it. Most lenders have their own restrictions, called overlays and many will require that you have proof of landlord experience before allowing the use of any rental income. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Only if you have prior rental experience

This would depend on the lender- If you are a 1st time home buyer there may be options available to you through your localcommunity bank or credit union-Good luck with the purchase,Pete

You'll will be required to show proof of prior rental experience. For more information feel free to visit our website www.thedejesusgroup.com.

Yes and you don't need prior history! Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation. Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com We are also proud Homes for Heroes affiliates!

No you do not need prior rental history with FHA.

Yes you can. FHA doesn't require prior rental history when purchasing an owner occ 2-4 family property. They do have a 'self sufficiency ' requirement however. Be sure your loan officer runs this calculation at the beginning of the process to help ensure a smooth approval.

Yes... You sure can. In MN or WI, visit www.WI-MortgageBroker.com