Mortgage help with 2 houses on one lot

[James Colgan]

I found a property I'm interested in purchasing. It's a Multifamily home (two family) and has another smaller SFH on the lot that owner rents out as well. I was speaking with a mortgage broker today and was told I would have a difficult time getting a mortgage bc of how houses are and bc of this most likely would have to get a blanket mortgage bc it would be considered commercial. He also added that if the property is listed as a 3 family then I would be able to get a mortgage but could have difficulty selling down the road bc of same issues I bring up in this post. The house is located in the state of NY and I would plan on living in one of the units if that makes a difference? Just wondering if anyone else has ran into this issue and if you were able to do anything to work around it? Also if any other mortgage brokers would like to add their input that would be appreciated. Thanks.

[James Colgan]

Originally posted by @Rich Ramjatan:

@James Colgan

Hey did you work this out ?

Rich, unfortunately no. Had some septic issues as well that the seller wasn't willing to work with me on so I decided to walk away.