Borrower says his home is taxed and recorded as a 4-plex. It is a 3 unit building plus 1 other separate building in which he lives. Is this going to be an FHA compliant 4-plex?
It will depend on the appraiser’s analysis of the property. Please note until an FHA appraisal is received we cannot determine if the property meets FHA minimum property requirements. If they have 4 units but 3 in one building and then an SFR. The appraiser is required to use like properties as comparable to establish value.