USDA Lending on 4-Plex Primary Residence

[Aaron Rowzee]

Does anyone know if it is possible to purchase a 4-plex using USDA residential lending? I am getting mixed answers from the two lenders in my area that do USDA. I know FHA will do it, but I'm trying to purchase with no money down. Does anyone have any experience in actually succeeding in acquiring a loan, or being the lender to this type of loan?

My wife and I qualify for the USDA income requirements, our area qualifies for territory requirements, and we do not own a home. We are currently renting, but would love a primary residence that also makes money. Also, does USDA allow you to count 70% of the rental income to help qualify, like FHA?

One other caveat: these are townhome style condos, and are legally described as "building and unit" not "lot and block". I know FHA will not lend on building/unit described properties, but does that matter in the event of buying all 4 connected units? Thanks for any assistance.