Simply put, the FHA loan program is not meant to be used for investment or rental residential or commercial properties. Removed and semi-detached homes, townhouses, rowhouses, and condos within FHA-approved apartment projects are all eligible for FHA financing. Your front-end ratio (your mortgage payment, HOA charges, property taxes, home mortgage insurance, and house owner's insurance coverage) requires to be less than 31% of your gross earnings.

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