“Sorry, I Can’t Do a FHA Mortgage on a 6 Unit Apartment Building”

“Sorry, I Can’t Do a FHA Mortgage on a 6 Unit Apartment Building”



Hey Joe, hope you’re having a happy holiday. Really appreciate the reassurance of your positivity towards mortgages, thought there was no hope, but know better at this point. I'm just emailing you seeing what the terms are for financing on a 6 family house that is in East Windsor. I know back in 2014 a mortgage guy told me he could get me an FHA mortgage up to 6 units.


It is unfortunate that someone in our business would give a prospective buyer such bad information but unfortunately there is always bad information being repeated.


This client wants to buy a multifamily to live in and hopefully have his tenants pay his mortgage and literally live rent free. The other goal was to do a 15 year mortgage, just part of his retirement plan. We discussed a three or four family so I was a little surprised by his email. Hopefully, I will be able to guide him back onto the “Right Trac”.


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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com



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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 27 commentsJoe Petrowsky • December 30 2015 06:36AM


Good morning Joe.  I thought it was only for no more than a 4-plex?  I'll double check for sure....  Funny how the numbers get twisted 

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) about 5 years ago

Good morning, Joe Petrowsky it seems that a large part of your mission is to clean up the mess that other "not so profession folks in your industry" have created.... and you do a great job of it...

Posted by Barbara Todaro, Previously Affiliated with The Todaro Team (RE/MAX Executive Realty - Retired ) about 5 years ago

Hi Joe.  I think he has a good plan.  You just need to suppl the right materials.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) about 5 years ago

As far I know FHA finances owner occupied multifamily up to 4 unts!!!

Posted by Sham Reddy CRS, CRS (H E R Realty, Dayton, OH) about 5 years ago

Maybe they can get a good rate on a non-conforming loan with a seller-second?

Posted by Dennis Swartz, MBA, GRI...experience counts! (Full Circle Property Management) about 5 years ago

It is unfortuante that there are professionals who give wrong information.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) about 5 years ago

Who would say you can do an FHA mortgage on a 4 unit even in 2014. Plus a 6 unit is so much harder to Finance period. I tell my clients with no multi family experience to stick to 3-4 unit buildings 

Posted by Lise Howe, Assoc. Broker in DC, MD, VA and attorney in DC (Keller Williams Capital Properties) about 5 years ago

Good morning Joe. Someone must have been joking or this guy does not hear well. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) about 5 years ago

Hmmm...people often remember things they way they want them to be ....sounds like this is an exmple of  just that !

Posted by Sally K. & David L. Hanson, WI Real Estate Agents - Luxury - Divorce (EXP Realty 414-525-0563) about 5 years ago

If anyone can, it would be you Joe.....hope it works out for him.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) about 5 years ago

Good Morning Joe Petrowsky 

Wrong information abounds. Thankfully you're are able to right the ship for your client.

Posted by Doug Dawes, Your Personal Realtor® (Keller Williams Realty - Topsfield, MA) about 5 years ago

Joe, good thing this potential buyer is contacting you for the correct information! 

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (House to Home, Inc. - Denver Real Estate - 720-231-6373) about 5 years ago

Joe: Thankfully you are there to give him the straight facts and hopefully get him back on the "Right Trac" to real estate success.

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (Coldwell Banker Access Realty ~ 478.960.8055) about 5 years ago

Hi Joe,

It's amazing what some people think they know.  Thankfully there are professionals like you who can help them do it the right way.

Posted by Wayne and Jean Marie Zuhl, The Last Names You'll Ever Need in Real Estate (Samsel & Associates) about 5 years ago

This is a good story to share. Much incorrect information is circulated.

Posted by Roy Kelley (Realty Group Referrals) about 5 years ago

It is funny how so many people think they are experts and throw information around without checking the facts.  I'm sure you will get him on the Right Trac!

Posted by Belinda Spillman, Colorado Living! (Aspen Lane Real Estate Colorful Colorado) about 5 years ago

Hi Joe.  Why didn't the real estate agent tell him FHA doesn't do 6 units?

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) about 5 years ago


Information should be shared by experts, as you do.  A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) about 5 years ago

Sometimes buyers will overlook little tidbits of information in the excitement of having found a property they like. After all, six units is better than four, right? It just won't work with this type of financing. 

Posted by Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES, Florida Waterfront and Country Club Living (Tropic Shores Realty - Ich spreche Deutsch!) about 5 years ago

That is too bad Joe, hopefully you can figure out something with a smaller building.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) about 5 years ago

Joe I don't know how the other LO past his/her licensing test.  Even a rookie knows anything over 4 units is considered commercial for any type of mortgage.  I thought we had gotten rid of all these clowns.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 5 years ago


I know you can back the customer on the Right Trac to get a mortgage.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) about 5 years ago

So what kid of financing IS available for a 6 unit building? Can you help him?

Posted by Hella Mitschke Rothwell, Hawaii & California Real Estate Broker ((831) 626-4000) about 5 years ago

Hi Joe --- as usual, you prove why it's important to find the right and most knowledgeable source when it's time to look for a mortgage.  

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 about 5 years ago

I knew that so the mortgage guy should have too. Yes there is a lot of bad information out there.

Posted by Debbie Reynolds, C21 Platinum Properties, The Dedicated Clarksville TN Realtor-(931)320-6730 (Platinum Properties- (931)771-9070) about 5 years ago

Just goes to show, Joe, there are idiots in every aspect of the real estate/mortgage business... I've had to deal with questions/issues from prospective clients who were given the strangest information by other agents that was totally wrong.

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Realty) about 5 years ago

It is a shame when clients get bad information. I know you will do your best to give this person the information he needs and to get him on tract to realizing his goal. 

Posted by Debbie Laity, Your Real Estate Resource for Delta County, CO (Cedaredge Land Company) about 5 years ago