If i have an attic converted to an in-law suite, is it considered a 2 family dwelling? Common entrance & untilities. Asking for re-fi purposes.
3rd floor of home finished off as a seperate living area but the only access is via a staircase within the home. Has a kitchen, bath, bedroom livingroom. There are no seperate utilities, all common to the house. Denied a equity loan because the underwriter said its a 2 family dwelling. Its currently unoccupied but was occupied during the appraisal process...
You should have no problem refinancing, as long as it isn't listed as a multi-family in your townships' records. There are some banks that have hangups about in-law suites- and they might be justified- but there are plenty of banks that would have no problem with it.
Feel free to contact me at 908-415-3958 if you need assistance.
What is the zoning & use of your property? Single-family or duplex?
Sounds like a 1 unit dwelling to me. I think we can refinance this as a 1 unit. Contact me for details.
Hi Sammi,
From the sounds of it, You have the same type of home your had before the renovations. The only difference is you added a kitchen, bedroom & living space. I wouldn't even call it an In-Law suite. There are other factors that would be determined by your township and zoning board. Start there. You could also speak with a Realtor or attorney. Hope that helps.
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