I apologize if my pea brain does not comprehend this concept. If a seller is giving 2 units for the price of 450k, would this mean I acquire only 1 loan? Even if it is 2 completely separate units?
Possible, with a blanket loan covering both properties, but not advisable....it restricts your ability to sell, refinance, etc. individually. Also if you are going to live in One of the properties, you’ll need two different loans to get the owner occupied rate/down payment.
2 "units" on 1 "property" gets 1 loan.
2 units comprised of 2 properties gets 2 loans.
Just to further explain - it goes based on the parcel of land or lot. If there are 2 single family rentals - it is considered a duplex. If there are 3 units on one lot - a duplex and a SFR - we still consider it a triplex and it is financed as a multi-family triplex.