Overnight Cabins: 1-4 Family?

Posted By: mdog76

Overnight Cabins: 1-4 Family? - 11/03/15 07:46 PM

For purposes of the ECOA appraisal notice and appraisal acknowledgments, how does everyone consider an overnight rental cabin? Commercial or 1-4 family?
Posted By: fmissle

Re: Overnight Cabins: 1-4 Family? - 11/03/15 07:53 PM

Commercial and 1-4 Family dwellings are not mutually exclusive.

You can have a commercial customer finance a 1-4 and the Appraisal requirements will apply.

I would provide it.
Posted By: fmissle

Re: Overnight Cabins: 1-4 Family? - 11/03/15 07:53 PM

I should have said commercial purpose (not just a commercial customer).