what is a multifamily property and will FHA allow it?

Multi Family property is a property that contains 2-4 separate livings units. FHA will allow this property type for financing as long you are intending on occupying one of the units as your primary residence.

Yuni, FHA classifies Single Family Properties as those containing 1- 4 Units all owned by the same person and showing in the county as one parcel/property. Some people may say it is 2-4 units in a property makes it a MULTI FAMILY Property, but not in FHA Opinion. With your question, I am not sure exactly what type of property you are talking about. If you are looking to buy a condo, the Condo much be approved by FHA. If you are talking about buying both sides of a Duplex, FHA would view that as a 2- Family. You might be able to buy one of the 2 units, but this is something you need to discuss with a Lender. Seperation of the utilities is one item that needs to be determined. You can find my contact information on my profile page if you have additional question. And I lend in Ohio.