Use these comparisons for planning; final eligibility, pricing and terms are set by the provider.
Loan routes for this property
| Financing route | When to compare it |
|---|---|
| FHA Mortgage Loans | Compare an eligible owner-occupied duplex purchase. |
| Conventional Mortgage Loans | Compare the documented occupancy and two-unit loan terms. |
| Investment Property Mortgage Loans | Use the investment route when neither unit will be your primary home. |
One address can still require two distinct income and cost views
Living in one unit does not make the other unit’s rent guaranteed. Document the actual leases or permitted market-rent evidence, identify utility responsibilities and budget for maintenance affecting both units. A converted house must have a property status acceptable to the lender.
Property and collateral requirements
Budget for the whole building, not only the portion occupied by the borrower. Allocate repairs, insurance and utilities and test a vacancy in the second unit. Confirm legal two-unit status before treating an informal extra apartment as qualifying rental property.
A specific financing scenario
Illustration: $1,300 of rent from the second unit against a $2,300 total property payment leaves $1,000 before repairs, vacancy and any rental-income adjustments. It does not make the household payment a guaranteed $1,000.
Documents and transaction inputs
| Document or information | How it is used |
|---|---|
| Legal two-unit status | Keep the current version and confirm the actual provider’s requirements; no upload is requested here. |
| Occupancy | Keep the current version and confirm the actual provider’s requirements; no upload is requested here. |
| Lease information | Keep the current version and confirm the actual provider’s requirements; no upload is requested here. |
| Property condition | Keep the current version and confirm the actual provider’s requirements; no upload is requested here. |
| Total building expenses | Keep the current version and confirm the actual provider’s requirements; no upload is requested here. |
| Reserves | Keep the current version and confirm the actual provider’s requirements; no upload is requested here. |
Compare payment, upfront cash and exit cost
Separate the property price from the full ownership or project cost. Add taxes, insurance, association charges where applicable, repair/completion requirements and reserves. For income-producing property, use a separate operating budget with vacancy, maintenance and management rather than treating gross rent as spendable profit. Ask whether valuation or property-condition issues change the required cash contribution.
Run the relevant calculation with your own figures; a modeled amount is not an approval or provider quote.
How to move from comparison to the actual provider
Choose the product route that addresses the circumstances above. Confirm that the actual provider accepts the income, property, state and transaction purpose. Request the current documentation and written terms through its verified channel, then compare an alternative on the same assumptions. Do not upload documents or rely on a financing deadline merely because a comparison tool returned a result.
Eligibility and repayment limits
The program and provider decide what evidence is acceptable. Use this page to prepare, then confirm eligibility, property requirements and documentation directly with the provider. Borrowing secured by property creates a risk of losing that property if the obligations are not met. Compare a smaller request or a different route when the proposed payment leaves inadequate reserves.
Questions about this financing route
Can projected rent cover the entire affordability analysis?
No. The lender determines how qualifying rent is treated, and an owner still needs a plan for vacancies and repairs. A rent projection is not a substitute for household cash resilience.
Select a financing route
Program references and comparison sources
CFPB: Understand the different kinds of loans available — Loan structures, terms and repayment risks; not provider-specific eligibility.
CFPB: Loan Estimate explainer — Comparison of covered mortgage disclosures, cash to close, points, lender credits and monthly costs.
Check the linked source for its effective date and applicable scope. A source link is not a lender partnership or an individual offer.