- Single-Family Residences (SFRs):
• Detached homes used as a primary residence, second home, or rental
• Must be in livable condition with no major structural or safety issues. All equpments including flooring, kitchen items are in good conditions.
2. Condominiums:
• Must be part of a Fannie Mae or Freddie Mac–approved or approvable condo project
• Must be in livable condition with no major structural or safety issues. All equpments including flooring, kitchen items are in good conditions.
• HOA must meet financial and insurance requirements
3. Townhomes:
• Treated similarly to single-family homes
• Must have separate deed and meet zoning requirements.
4. Multi-Family Properties (2–4 Units):
• Eligible for owner-occupied financing
• Investment use allowed with higher down payment and reserves
• Must be in livable condition with no major structural or safety issues. All equpments including flooring, kitchen items are in good conditions.
• Must meet rental income and appraisal guidelines
5. Manufactured Homes (on permanent foundation):
• Must be built after June 15, 1976
• Must be titled as real property and meet HUD standards
• Not all lenders offer conventional loans for manufactured homes
6. New Construction or Homes Under Contract:
• Properties under construction or with future closing dates (e.g., builder contracts) may qualify
• Must meet appraisal and completion requirements before closing.
7. Properties That May Not Qualify
• Uninhabitable or severely damaged homes (unless using renovation loans like FHA 203(k) or HomeStyle)
• Commercial-use properties or those zoned for business
• Agricultural land or large acreage without a residential structure
• Tiny homes, houseboats, or RVs not classified as real property
We may have private loans for borrowers/properties not able to qualify a normal loan. Please contact us to see what we can do for you.