FHA Investment Properties

FHA loans are generally only for owneroccupied purchases or refinances. But,many people move out of their owner occupied homes after living in the homefor a minimum of one year and keep theses properties as rentals.  If this is your situation, you can apply for a FHA Investor Streamline Refinance Loan without an appraisal being required.  It is a rate & term refinance, no cash out is allowed.    

 FHA Financing for Investors

For investors purchasing FHA/HUD Real Estate Owned (REO) properties, owner occupancy is not required when the jurisdictional FHA HOC (Home Ownership center) sells the property and permits the purchaser to obtain FHA-insured financing on the investment property. In these situations, the mortgage amount is limited to 75 percent of the lesser of either the appraised value or the sales price for 1 - unit properties and 85 percent for 2 to 4 - unit properties up to local maximum mortgage loan limit amounts.
Prepaid expenses, financing or closing costs may not be included in the mortgage loan amount for investor purchasers.

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  http://www.MBongiovanni@TheLendingCo.com