Can FHA Loans be used as investment properties?
Did you know? You can’t use an FHA loan to purely invest in properties! 💡🚫
There are a lot of misconceptions out there. While buying a multifamily house with an FHA loan is a fantastic investment, you must live in one of the units. If you don’t, it’s considered occupancy fraud—a serious offense!
With an FHA loan, you can purchase a 2-4-family home, move into one unit, and rent out the others. Imagine having a $6000 mortgage and collecting $5000 in rent from the other units. That leaves you with only $1000 to cover!
Remember, it’s a smart way to invest, but you have to make it your home, too! 🏠
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