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Updated over 9 years ago,
Is a Half-plex considered a SFH for Fannie Mae HomeStyle Reno Loans?
Hello,
I am putting in an offer for half of a duplex (half-plex) that requires significant foundation work. I has been pre-approved for a reno loan through Fannie Mae's HomeStyle Renovation loan program as an investor. Per Fannie Mae rules, investors can only use this loan product for SFHs. It just now dawned on me that a half-plex might not be considered a SFH but rather a multi-family. I plan to talk to my loan officer tomorrow but I was wondering if anyone on BP has any experience with HomeStyle loans for half-plexes.