Tag Archive for: in-law units

How To Finance In-Law Units; Flight To Safety Again

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CA recently passed a bill (SB9) that eases zoning restrictions and makes it far easier for homeowners to add extra units to their properties. These units are known as Accessory […]Read More

Duplex vs. House + In-Law Unit (ADU)?

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A few months ago, we had a purchase with two units on one lot. It had two addresses and two electrical meters, and our underwriter insisted it was a duplex – effectively killing our deal. So, we called Fannie Mae and explained all the particulars and Fannie overruled our underwriter. Our underwriter justifiably thought it was a duplex because of the two addresses and two meters – but those factors are not dispositive.Read More

6 Things I Learned From Boomers; Credit Inquiries; HOA Dues; In-Laws And Total Square Feet

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Borrowers can have an unlimited number of credit inquiries from mortgage lenders over a 45-day period, and the credit scoring models will treat it as a single inquiry. This is an extremely important reminder for our many borrowers who are very concerned about their credit scores.Read More

Bigger House Vs. Smaller House +In-Law Unit; Price Per Acre Issues

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Several months ago, I blogged about a 3,700 square foot property that appraised for far less than the owner thought it would because it was really a 2,300 square foot […]Read More

How Much Is An “In-Law” Unit Worth? Less Than You Think

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REALTOR MISSES VALUE OF HIS OWN HOME BY $500,000 Years ago I was refinancing a Realtor who insisted his remodeled 3,700 square foot home was worth at least $1.5 million. […]Read More

How Much is an “In-Law” Unit Worth? Less Than You Think

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REALTOR MISSES VALUE OF HIS OWN HOME BY $500,000 Years ago we were refinancing a Realtor who insisted his remodeled 3,700 square foot home was worth at least $1.5 million. […]Read More

How Much is an “In-Law” Unit Worth? Interior Access; Less Than You Think

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REALTOR MISSES VALUE OF HIS OWN HOME BY $500,000 Years ago I was refinancing a Realtor who insisted his remodeled 3,700 square foot home was worth at least $1.5 million. […]Read More

Illegal In-Law Units and Credits For Closing Costs Always OK If…

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Appraisers can’t usually count illegal in-law units toward value, and seller credits must not exceed closing costs. Here’s how to handle both.Read More