FHA and a triplex?

[fslady]

I am interested in purchasing a townhome that is part of a triplex but have been told by a broker that FHA will not approve triplexes. The broker went on to say that FHA will fund single family homes, duplexes, and certain condos - but not a townhome segment of a triplex. This does not make sense but is probably part of the greater bureaucracy.
Has anyone had any experience with this???
Thanks
fslady

[my4devils]

Are you only buying the one home? We bought a townhome a few years ago that was one of four and we used an FHA loan. Not sure if the rules have changed since 2002 but if you are only buying one I cant see why there would be an issue.

[fslady]

1 segment of a triplex

Actually I would like to buy only 1/3 of the triplex. The other 2 segments are owned by other people - 1 resident owner, and 1 is rental. It looks like FHA will finance buying an entire triplex but not 1 unit.

[Flamingo]

You can easily research FHA requirements online. When we did a FHA loan when we refinanced, I had major questions about the PMI that was required; the broker answered me and I did not believe him but the broker was correct after I did the research.