Regular Contributor
Posts: 141
Registered: ‎12-22-2008
Re: So I've started my journey

Update**  I've ran into a lot of bumps in the road dealing with my amateur lender and agent.  I've found a great Single family residence that has a mother-in-law suite with a tenant in it covering the over half the mortgage.  They have been there 5 years so that nice!!  My pre-approval is for FHA $250k 3.75 Rate and 4.820% APR.  I'm just trying to find a down payment assistance program that will work for me.  Initially I was scared this property wouldn't work for the DPA because it's listed as a multifamily property.  


However some funny things came up when I visited the property.  The current owner advised there is only one meter and he controls the thermostats.  I went home and checked the county records and found the house is actually taxed/zoned as a single family residence.  I was pissed that my agent didn't catch this along with a lot of other things.  However this issue may work out in my interest.  


I do have a question, does anyone know what dictates a single family dwelling?  Is the fact that the house is zoned/taxed as a single family mean all agency's have to look at it as a single family.  I'm afraid during the inspection they will say it's multi-family, anyone have experience with this? 

Starting Score: 615
Current Score: Lender pullEQ 667, TU04 698 TU98 644, EX 660
Goal Score: 700

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