If you are going to consider a duplex, triplex or fourplex and reside in one of the units, FHA is a possible financing option for you. FHA still allows a 3.50% downpayment, as well as gift funds and sellers assist towards closing costs are still an option. You should plan on 3 months piti as reserves (principal, interest, taxes, and insurances). Buyers may also receive a credit of the monthly rental income to help qualify, borrowers can plan on roughly 75%.
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