What type of Home do You Want?
Detached Single-Family House
– No shared walls, floors or ceiling.
– Exclusive ownership of the land the house sits on (typically).
– Often higher-budget than comparable condos with similar characteristics.
– An individual unit within a complex/community in which the owner owns only the interior of the unit.
– Ownership and responsibilities for the exterior and common areas are shared among homeowners.
Tip: Homeowner Association fees will play a part in your Debt-to-Income ratio (DTI), so it’s important to keep these fees in mind when considering your budget.
– Residential properties with two to four units.
– Includes Duplexes, Triplexes and Fourplexes.
– Could also be 2-4 separate houses on one parcel.
– The owner owns all of the units collectively.
Note: May be financed with most traditional owner-occupied financing as long as buyer/borrower lives in one of the units.