EXAMPLE
of Buying a fourplex with an FHA loan 3.5 % down up to $ 1,200,000 on 4 units (depends on county and state limits); $ 1.2 M
purchase price = 3.5 % down (or $ 42,000) ** Primary Residence Loan Amount
of $ 1,158,000 w / MIP 30 Yr Fixed Rate
of 3.25 % with Payments
of $ 5,040 / month Rental Income per month
= $ 4,500 on other 3 units Mortgage Payment per month
= $ 5,040 Effective P + I
= $ 540 IMPORTANT: For FHA 3 - 4 unit financing, there is a self - sufficiency test the
property must pass for a specific loan amount.