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Definition of residential structure or dwelling for Fannie Mae/Freddie Mac?
Hi! I am in desperate need of an answer! My local county defines a dwelling unit as a structure that has sleeping quarters, sanitary facilities, and cooking. Fannie Mae, as far as I can tell, defines 'dwelling unit' as a 'residential structure' but then gives no definition I can find as to what the definition of 'residential structure' is. The problem we are encountering is they are calling another structure on our lot a mother-in-law quarters and we say it is not, as it has no cooking facilities. Can anyone help give us an official place to find the actual answer? Our bankers (yes, we've spoken to more than one) are trying to write us a fairly punitive non-conforming loan because of the question about the appraisal of this structure. They never came up with this research, this is our own doing, but if I can hand them the definition and prove my point it's a lot better than me just saying so, which is where we've been-endlessly arguing about it. Can they be made to use my county's definition of a dwelling unit? I'd rather have a reply here that tells me how FM defines residential structure, as that would cinch any loopholes they could hit me with. Thanks!
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See.. (found with a Google search) http://www.northernbayappraisal.com/PDF/fnma.pdf Search within the doc for "mother-in-law"... Its NOT a 2 family as it has no kitchen... |
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