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Updated about 9 years ago,
Loan process for single family versus loan for duplex or tri ?
My wife and I are looking into buying our first home, hoping to get lucky and possibly find a multifamily home (duplex or triplex) we can afford. However, this was not the plan when we first sought the loan, the plan then was to find a single family home to live in. Loan is still in processing for approval. Should I let the lender know that we are possibly looking to get into a multifamily. Will getting a multifamily (duplex or triplex) change our loan process, or the type of loan at all?