Conventional Loan for Lot with 2 Duplex buildings on it

[Andrew Dillard]

Hello all.  I am looking at purchasing a single lot that has two separate duplex buildings on the lot for a total of 4 units.

I talked with my mortgage lender about this and he said the only way to do this is to split the lot into two lots and each lot (duplex) would have its own loan.  He said Fannie Mae will not lend on two properties on the same loan.  Is this correct?  Can anybody point to the exact rule?

Thanks in advance

[Upen Patel]

@Andrew Dillard Looks like you need to get the county record changed to a fourplex, because that is what you have. You might also want to check and see that proper permits were pulled and the 2nd duplex built legally.

The only other option is to split the lot into two.