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Updated over 5 years ago,
Request help with technical question regarding multi units
My question is in regard to what the government secured loans define as suitable. The property is three structures. One duplex that is 3/2 on each side. Two single-family that are both 2/2. They are co-located but wired separately. There is a space between each structure.
This is not a traditional quadruplex or fourplex etc. I want to know if it can be treated as a quadruplex if all are purchased together. As I said, they are not attached,
My question is this: would someone know what rules and definitions FHA and HUD (where to find, a link to would be fantastic and greatly appreciated) apply to FHA financing?
I would claim one of the units as my primary residence and rent out the others. I am looking for a non-commercial loan, with a lower interest rate, lower down payment percentage, etc.
Maybe someone knows a post or blog on BP that addresses this very question, or a link to the reference information. I had no such luck finding anything in regard to the above. If anyone would be so kind. Thank you.