Is the property a conforming use as a duplex?

The lower level bedrooms are non-conforming, and we make note of that in the broker remarks.We received an offer of $209k yesterday, and we will likely go under contract this evening with that same buyer.

(even though many agents who work with buyers do have relations with buyers it is still open in nature)The Transactional Agent Bill is refering to is the role the Listing Agent conforms to when no other agent shows up.

tony, currently, you and your fiancee are separate entities..if you can each qualify on your own for loans, you could each hit your cap of conforming loans before getting married...once you are married, you are an entity together and won't each be able to get the 4 loans..it's a way that you can double the amount of 30 year fixed low interest loans before geting married..once married, you can then transfer to an LLC that you joinlty own...maybe im' not making muchsense today..chalk it up to a long weekend and a monday...sorry anyways, i believe mitch found a way for his wife to qualify for loans so im' sure there are other strategies as well

Conventional loans are loans that conform to the Fannie Mae and Freddie Mac guidelines.

A quick look at Freddie Mac's website on maximum conforming LTV (http://www.freddiemac.com/singlefamily/factsheets/sell/ltv_tltv.htm) confirms that if you were to purchase a 2-4 unit multifamily as a primary residence, the maximum a lender could finance if they wanted a conforming loan would be 80% LTV which requires a 20% down payment. 

That's not to say you can't apply for a non-conforming use though.  

So presumably you would be looking at multi-families in Lawton, then.If you are looking at investment financing, conforming loans are usually 20-25% down payments, meaning your budget would be approximately $60k with a $15k down payment (assuming again the seller can cover all of your closing costs), which may not be quite enough in our market to get a rent-ready duplex off the MLS.I actually posted about this very topic just a couple days ago in my blog - house hacking, just like BP says to do!  

Most subdivisions in Metro Atlanta are conforming ones only to their respective subdivisions, which means you'll find a subdivision of contemporary homes built in the '70's selling in the mid 200's sitting right next to a subdivision of traditional homes in the $600's sitting right next to a distressed subdivision in the low $100's suffering from a 6-month 50% foreclosure rate, all with totally different rent rates.

I am currently looking at a 4-plex California, the financials are strong (rare for California) and thw property wIll cashflow after a small downpayment and fIllIng up the main unit wIth a renter.After finding out it fell out of escrow last week I got more details and found that 2 of the 4 units were never permitted and are “non-conforming” units.