FHA 2-4 unit Loans

Tennessee FHA 2-4 unit Loans

FHA Loans to purchase Tennessee 2, 3 or 4 Unit properties

VanDyk Mortrgage offers FHA Loans to finance the purchase of a Tennessee multi family home (2-unit, 3-unit or 4 Unit, aka Duplex, Triplex, and Fourplex).  This can be a great investment strategy,  as you can live in one of the units and rent out the other units.   Our Tennessee FHA 2-4 Unit loans require the standard 3.5% FHA Down payment and that you live in and occupy one of the units.

You can use the rental income of the rented unit on a 2-unit or Duplex to help qualify.   This will determined either by using existing tenants and their actual rent rolls, or a projected rent schedule from the FHA Appraisal. Our FHA underwriters will allow you to use 75% of those rents towards your income for qualifying purposes on a 2 Unit or Duplex.

 For 3-4 unit properties, the rents can also be counted towards income to help qualify – however the total projected net rents on the units must cover the entire PITI payment.   Call for details.  866-900-2342 toll free direct.   for Triplex and Quadruplex purchases, FHA also requires that you have 3 months PITI reserves remaining after closing  this helps ensure you have the ability to weather vacancies, etc.

You can also utilize FHA Loans to Refinance your current 2, 3 or 4 unit property.    Call us for more info.

Call us if you are interested in purchasing a Tennessee multi-unit property, and we can help you with the numbers. You might be surprised what you would qualify for! 866-435-6553 toll free direct.

We do suggest that you utilize a good Tennessee Realtor when searching for a multi-unit property, as they can help with the property search, cash flow projections, and FHA property eligibility.

  • You can utilize an FHA Loan to make your next home a true investment.
  • Tennessee FHA Loan limits for 2 units: $503,500
  • Tennessee FHA Loan Limits for 3 units: $608,600
  • Tennessee FHA Loan Limits for 4 units: $756,350 

Many Tennessee counties are eligible for higher FHA loan amounts for FHA 2, 3 or 4 plex purchase and refinance.

Here is a complete list of Tennessee Counties and their FHA Loan Limits for Multi Units

Call the FHA Loan Pros at VanDyk Mortgage today at 866-435-6553 to get started, or apply online at mcdonaldmortgage.com


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