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How to Quality a buyer for Multi Family FHA LOAN, very simply

Add all rental of the property

Total Rental x 85 % = this amount must be larger than mortgage payment

Example :

Apt : 1 = $ 1800

Apt: 2 = $ 1600

Apt: 3 = $ 1800

Total = $ 4470

$4470 x 85 % = $ 3900

The mortgage payment can't be larger than $ 3900

Posted Monday Aug 11