I want to go back and go over what you had stated. You said this... "double/single family home". And then you said the property is a "2 unit dwelling."
So, is the property 1 building with 2 units in it, each unit owned by 2 seperate people? Like a twin, but 2 condo units side by side? I ask this because Fred Glick below seems to be assuming. A few things here... he said that 2 unit condos are nearly impossible if the one unit is occupied. This is not true at all. I just did one in North jersey. Fred Glick is a broker and we are a banker, that we underwrite our loans in-house. Secondly, Fred Glick is not FHA approved, we are and underwrite these loans in-house also.
Overall, this property needs to be better defined first. Also, everyone involved needs to know if you fit the condo guidelines, which Fred did not specify. Even if you found someone to do a 80/15. You will need by laws, the condo insurance with a condo questionaire filled out, and a few other items. And even if the buyer would do a USDA loan, the USDA or state will require that the condo either be FHA approved, Fannie Mae approved, or Fredie approved. This will be required and I know about this. Do you have a copy of any of the documents mentioned above? This is very essential before moving forward. Again, it was not brought up by the other person. Please don't hesitate to call me or e-mail me. thanks, jeff