Househacking duplex with 2 different addresses

3 Replies

Newbie question Has anyone ever ran into an issue of trying to purchase a duplex but it's listed with 2 different addresses? So you have to take out 2 separate mortgages and one will be considered an investment . Please advise

There are houses like this in my area, and yeah, a conventional loan will only buy you one at a time. You can get good owner-occupied loan terms on the one you live in, but since it's considered 2 addresses, the second one won't qualify for that. You could get a single loan for both of them, but that would be a commercial loan and you'd have to make a bigger down payment and have a higher interest rate. Unfortunately, there are definitely advantages to buying a duplex that is only considered a single address.

Interesting!  It's not usually like that where I live, though I've occasionally run into it.

However, usually in my area, duplexes will have two different addresses for mailing purposes, but only ONE address is attached to the lot for property taxes and all of those legal purposes.  So only one loan is required.  If you haven't already, check that out.  If the city/zoning considers it one lot, a bank probably does also.

In fact, my personal home is a duplex...two mailing addresses, but one address for the lot...and that house hacking is what got me even more interested in REI! It is one loan with all the financing goodness that comes with an owner-occupied property.