San Mateo to be exact.I'm trying to find out more information about San Mateo County and what homeowners can do to potentially add an ADU or accessory dwelling unit.

Up Front Mortgage Insurance Premium - For most of its mortgage insurance programs, FHA collects an: Upfront mortgage insurance premium (UFMIP), and Annual insurance premium which is collected in monthly installments Mortgage Insurance Premium - For 15 year and greater than 15 years. 1.75% of purchase price Annual Insurance Premium Greater than 15 years & greater than or = 95% LTV - 0.8%Greater than 15 years & less than 95% LTV - 0.85%Less than or = 15 years & Grester than 90% LTV - 0.7%Less than or = 15 years & less than 90% LTV - 0.45%High Balance Loan Amounts Less than or = to $625,000 & less than or = to 95% LTV - 0.8%Less than or = to $625,000 & greater than 95% LTV - 0.85%Greater than $625,000 & less than or = to 95% LTV - 0.1%Greater than $625,000 & greater than 95% LTV - 0.105%INCOME—RENTALRental income from a borrower’s primary single family residence (boarder income) is not acceptable for qualifying.Rental Income from the subject property may be considered effective income if the subject property is a 2-4 unit dwelling.

Other companies that do the umberella without the underlying coverage (auto, home, rental dwellings,..) that may be able to quote are USLI & RLI.  

SELLER'S DISCLOSURE OF LEAD-BASED-PAINT AND LEAD-BASED PAINT HAZARDS is required by federal law for a residential dwelling constructed prior to 1978. 

They quoted $200K for the dwelling coverage, and I can manually lower it to $153K (as low as it will go).My questions are: Should I just go with the Replacement Cost policy?

There is an HOA but there is no restrictions to the type of dwelling as long as it is not comercial or higher than three stories.

What kind of penalty would I face if I got caught using a SFH as a Multi family dwelling?

That's awesome to hear that you were able to bounce back like that and keep moving forward instead of dwelling on the past!

. Ownership of a multifamily property consisting of more than four dwelling units. Joint or total ownership of a property that is held in the name of a corporation or S-corporation, even if the borrower is the ownerof the corporation and the financing is in the name of the corporation or S-corporation. Ownership in a timeshare. Ownership of a vacant (residential) lot. Ownership of a property that is held in the name of an LLC or partnership where the borrower(s) have an individual or combinedownership in the LLC or partnership of less than 25% and the financing is in the name of the LLC or partnership. Ownership of a manufactured home on a leasehold estate not titled as real property (chattel lien on the home).

Hello Bigger Pockets community,First, thank your for giving me the learning opportunity to see my goals thru, Second, I hope to make many new friends and business partners, not for the moment but for a lifetime and I am ready to learn from one or from all anything/ something new, that can help take my business to the up most levels, To start with I started back in 1987 investing in condemned dwelling, empty lot for new construction/owner-builder, I have learnt a lot, lots of hard knocks, many lessens and still going forward to my pursuit of succeeding in my chosen field, Hope that I can meet each of you in person one day but for now, Thank you  P.S.