Multi-Family Residence (2 to 4 units)
Updated 04/30/2024

What Is a Multi-Family Residence?

A multi-family home is a single structure designed to house more than one family living independently. This can range from a duplex (two houses in a single building) to single-family homes or small apartment complexes with up to four apartments. (A building with more than four apartments is classified as a commercial property.) The owner of a multi-family home can either live in one of the apartments while renting out the others or live on another property while renting out all of them. If you do not reside in the property, you are classified as an investor, and the conditions for obtaining a mortgage alter. You may be able to utilize the property’s projected rental revenue to help you qualify for a mortgage, and you may also be eligible for a more considerable loan amount.

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