What Is an FHA Fourplex Loan?
An FHA fourplex loan is a standard FHA mortgage used to purchase a 4-unit residential property — with one requirement: you must occupy one unit as your primary residence. The other three units can be rented, and FHA allows you to count 75% of their market rent toward your qualifying income.
This creates one of the most powerful owner-occupied investing structures available in South Florida. A buyer with a 580 credit score and approximately $52,000 in down payment can own a $1.4M quadplex in Miami-Dade, live in one unit, and collect rent from three others.
Roland's 20-year construction background means he assesses all four units — permit history, systems condition, and per-unit renovation cost — before you make an offer. On a fourplex, four units means four of everything that can go wrong.
FHA Fourplex Loan Limits — South Florida 2026
| County | 1-Unit | 2-Unit (Duplex) | 3-Unit (Triplex) | 4-Unit (Quadplex) |
|---|---|---|---|---|
| Miami-Dade | $776,550 | $994,050 | $1,201,500 | $1,492,875 |
| Broward | $776,550 | $994,050 | $1,201,500 | $1,492,875 |
| Palm Beach | $776,550 | $994,050 | $1,201,500 | $1,492,875 |
| Collier | $776,550 | $994,050 | $1,201,500 | $1,492,875 |
The 4-unit limit of $1,492,875 at 3.5% down requires $52,251 in down payment. With Florida Hometown Heroes ($35,000), a qualified buyer can close with roughly $17,000 down plus closing costs. See the FHA loan limits guide for the complete breakdown.
The FHA Self-Sufficiency Test — What Stops Most Buyers
This is the rule most agents don't know until the deal is already in trouble. Duplexes are exempt from the self-sufficiency test. Triplexes and fourplexes are not. For any 3–4 unit FHA purchase, FHA requires that the combined estimated market rent from all units equals or exceeds the total monthly PITI payment.
Answer a few simple questions and discover homebuyer programs, financing options, grants, and next steps — tailored to your South Florida situation.
Take The Homebuyer Qualification Quiz ›| Unit Count | Self-Sufficiency Test | Implication |
|---|---|---|
| 2-Unit (Duplex) | Not required | Qualify on personal income alone — most flexible |
| 3-Unit (Triplex) | Required | All 3 units' combined rent ≥ PITI |
| 4-Unit (Quadplex) | Required | All 4 units' combined rent ≥ PITI |
The appraiser — not the seller — provides the market rent schedule. If the appraiser's rent estimate doesn't cover PITI, the loan fails regardless of your personal income. Roland runs this calculation before the offer.
For the duplex alternative that carries no self-sufficiency test, see the FHA duplex loan Florida guide.
The Cash Flow Math — What You Actually Net Each Month
| Purchase Price | 3.5% Down | Est. PITI/Mo | Gross Rent (3 units) | Effective Monthly Cost |
|---|---|---|---|---|
| $800,000 | $28,000 | ~$6,900 | $4,800–$6,000 | $900–$2,100 |
| $1,000,000 | $35,000 | ~$8,500 | $6,000–$7,500 | $1,000–$2,500 |
| $1,200,000 | $42,000 | ~$10,200 | $7,200–$9,000 | $1,200–$3,000 |
Estimates: 7.25% rate, 30-year term, Miami-Dade county average taxes and insurance, 0.55% annual MIP. Rent figures are current Hialeah/North Miami submarket ranges for 3BR units.
Down Payment Assistance on a Fourplex — The Stack
Florida Hometown Heroes is eligible for FHA loans on 2–4 unit owner-occupied properties. On a $1,000,000 fourplex, 3.5% down is $35,000 — exactly what Hometown Heroes covers.
$1.0M fourplex · FHA 3.5% down = $35,000 · Hometown Heroes = $35,000 · Net down payment from buyer: $0 · Closing costs: ~$18,000–$25,000. The only cash needed is for closing costs.
See all programs at the South Florida DPA directory.
Where in South Florida the Self-Sufficiency Test Clears
- Hialeah: 3BR rents $1,800–$2,200/month, cap rates 5.5–7.0%. Self-sufficiency clears at $700K–$900K purchases with current rents.
- North Miami / North Miami Beach: $2,000–$2,500/unit, cap rates 6.5–8.5%. Higher yields, older stock — GC assessment critical for cast iron and 40-year cert exposure.
- South Dade / Homestead: Entry pricing $600K–$850K, rents $1,600–$2,000/unit, newer construction (1980s–2000s) with lower GC risk.
- Little Havana / Allapattah: Below-market legacy rents can fail the test at purchase; value-add strategy as rents normalize at tenant turnover.
See cap rate benchmarks in the Miami multifamily cap rates 2026 guide.
What a Licensed GC Checks on a Fourplex
- Permit history on all four units: Unpermitted additions flag immediately on FHA appraisals. Roland pulls Miami-Dade permits before the offer.
- Separate vs. shared utility meters: Shared electricity is a cash flow risk you cannot control. Identify before the offer.
- HVAC per unit: Four AC systems at different ages means staged replacement costs. Roland models remaining useful life as a capital reserve line item.
- Cast iron drain lines: Common in pre-1980 stock. Failure costs $15,000–$40,000. Known beforehand it is a negotiating tool; unknown it becomes an emergency.
- 40-year certification status: Buildings 40+ years old require structural recertification. Most lenders won't finance pending-cert buildings.
See the full framework at the GC homebuyer’s guide.
FHA vs. Conventional vs. DSCR for a Fourplex
| Loan | Down Payment | Must Occupy | Income Doc | Self-Suff Test | Best For |
|---|---|---|---|---|---|
| FHA | 3.5% | Yes — 1 unit | Full personal | Yes (3–4 unit) | Owner-occupants, limited capital |
| Conventional Investment | 25% | No | Full personal | No | Investors, not living in it |
| DSCR | 20–25% | No | None | No (1.0+ DSCR) | Self-employed, portfolio investors |
For the non-owner-occupied investor path, see DSCR loans Florida.
How to Apply — FHA Fourplex in South Florida
- Check eligibility: 580+ credit, 2-year employment history. Use the free eligibility quiz for a 3-minute check.
- Pre-approval with FHA multi-unit lender: Roland refers to South Florida lenders who actively work FHA multi-unit deals.
- GC-assessed property search: Roland identifies fourplex candidates that will clear the self-sufficiency test at current rents before you tour.
- Hometown Heroes DPA application: Runs simultaneously with the purchase contract — timing coordination is critical.
- FHA appraisal with rent schedule: Roland reviews the appraiser’s rent schedule before it is finalized.
- Close and begin rental operations: Roland’s GC background supports the post-close scope to bring all units to market condition.
