What is the FHA's owner/occupancy ratio requirement?

Answer by  noey1958 (1405)

There is a fixed amount that is required for you to be able to obtain an FHA loan. Usually it is if you add up all your monthly bills plus your new mortgage and fees (taxes,insurance)the total can be no more than 38% of your monthly income. It is a formula that ensures that you don't buy too much house.

Answer by  Jodie (551)

When FHA offers new properties for sale, the first ten days it is available only to owner occupants. Investors can make a bid, but there is no chance that they will be accepted during this period. After 10 days if no accepted contract from an owner occupant, then they will open the bidding up to investors also.