SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                    FORM 8-K

                                 CURRENT REPORT

                        Pursuant to Section 13 or 15 (d)
                     of the Securities Exchange Act of 1934

          Date of Report (Date of earliest event reported): May 1, 2000

                         Commission file number O-17248


                         OWENS MORTGAGE INVESTMENT FUND,
                        a California Limited Partnership
             (Exact Name of Registrant as Specified In Its Charter)


             California                                    68-0023931
    (State or other jurisdiction                        (I.R.S. Employer
  of incorporation or organization)                    Identification No.)


       2221 Olympic Boulevard
      Walnut Creek, California                              94595
(Address of principal executive office)                    (Zip Code)


           (925) 935-3840
   (Registrant's Telephone number,
        including area code)




<PAGE>



ITEM 4.       CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.

         At a meeting of the Board of Directors of Owens Financial Group,  Inc.,
the General  Partner of the  registrant,  held on April 28, 2000, the accounting
firm of Grant Thornton LLP was engaged by the General  Partner to perform future
independent  audits of the registrant.  Grant Thornton LLP thereby replaced KPMG
LLP as the registrant's independent accountants.

         In connection with the audits of the two years ended December 31, 1999,
and the  subsequent  interim  period  through  April  28,  2000,  there  were no
disagreements with KPMG LLP on any matter of accounting principles or practices,
financial  statement  disclosure,   or  auditing  scope  or  procedures,   which
disagreements  if not resolved to their  satisfaction  would have caused them to
make  reference in connection  with their  opinion to the subject  matter of the
disagreement.

         KPMG LLP's reports on the  registrant's  financial  statements  for the
past two years did not contain an adverse  opinion or a  disclaimer  of opinion,
nor were they qualified or modified as to uncertainty, audit scope or accounting
principles.



ITEM 7.      FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

              (c) Exhibits.

Exhibit Reference Number                       Exhibit Description
           16                Letter from KPMG LLP regarding change in certifying
                             accountant.*

--------------------------------
*  Filed herewith



<PAGE>


                                   SIGNATURES

           Pursuant to the requirements of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                   OWENS MORTGAGE INVESTMENT FUND,
                                   a California Limited Partnership

Date:  May 5, 2000                 By: /s/  Bryan H. Draper
                                       --------------------
                                       Name:  Bryan H. Draper
                                       Chief Financial Officer and
Secretary
                                       Owens Financial Group, Inc.
                                       General Partner
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SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                        Pursuant to Section 13 or 15 (d)
                     of the Securities Exchange Act of 1934

          Date of Report (Date of earliest event reported): May 1, 2000

                         Commission file number O-17248

                         OWENS MORTGAGE INVESTMENT FUND,
                        a California Limited Partnership
             (Exact Name of Registrant as Specified In Its Charter)

             California                                    68-0023931
    (State or other jurisdiction                        (I.R.S. Employer
  of incorporation or organization)                    Identification No.)

       2221 Olympic Boulevard
      Walnut Creek, California                              94595
(Address of principal executive office)                    (Zip Code)

           (925) 935-3840
   (Registrant's Telephone number,
        including area code)
ITEM 4.       CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.

         At a meeting of the Board of Directors of Owens Financial Group,  Inc.,
the General  Partner of the  registrant,  held on April 28, 2000, the accounting
firm of Grant Thornton LLP was engaged by the General  Partner to perform future
independent  audits of the registrant.  Grant Thornton LLP thereby replaced KPMG
LLP as the registrant's independent accountants.

         In connection with the audits of the two years ended December 31, 1999,
and the  subsequent  interim  period  through  April  28,  2000,  there  were no
disagreements with KPMG LLP on any matter of accounting principles or practices,
financial  statement  disclosure,   or  auditing  scope  or  procedures,   which
disagreements  if not resolved to their  satisfaction  would have caused them to
make  reference in connection  with their  opinion to the subject  matter of the
disagreement.

         KPMG LLP's reports on the  registrant's  financial  statements  for the
past two years did not contain an adverse  opinion or a  disclaimer  of opinion,
nor were they qualified or modified as to uncertainty, audit scope or accounting
principles.

ITEM 7.      FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

              (c) Exhibits.

Exhibit Reference Number                       Exhibit Description
           16                Letter from KPMG LLP regarding change in certifying
                             accountant.*

--------------------------------
*  Filed herewith
SIGNATURES

           Pursuant to the requirements of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                   OWENS MORTGAGE INVESTMENT FUND,
                                   a California Limited Partnership

Date:  May 5, 2000                 By: /s/  Bryan H. Draper
                                       --------------------
                                       Name:  Bryan H. Draper
                                       Chief Financial Officer and
Secretary
                                       Owens Financial Group, Inc.
                                       General Partner