As I have mentioned before, FHA loan limits are higher for multi-unit buildings. These can either be purchased as tenants in common, or to live in one unit and rent out the others. Here is a story from today’s New York Times that shows how this can be done successfully in San Francisco, with a minimal down payment: only 3.5% down!
Please note that our firm is featured rather prominently in this article. Kudos to us, and specifically to Sue Florence of our Van Ness office who made this happen and unfortunately is not mentioned in the article.
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Tags: 2 units, 3.5% down, FHA, New York Times, tenants in common
