Ask The Experts: Question of the Week
Fannie Mae vs. Freddie Mac – Multiple ADUs on Property
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Question:
Can you close a home with Fannie or Freddie when the property is a Single-Family but there are two ADUs [Accessory Dwelling Units]?
Answer:
Fannie Mae – short answer: Yes, IF and only IF you, as a company, are already using UAD 3.6; if still using UAD 2.6, it is not allowed to have more than one ADU on an SFR. When you do deploy UAD 3.6, the answer would be: Yes, for Fannie Mae – up to three ADUs would be permitted on a 1-unit SFR, provided the property is properly classified/appraised as a 1-unit principal residence.
Freddie Mac: short answer: No. Freddie only allows 1 ADU. One ADU is allowed on 1-, 2-, and 3-unit properties.
Subscribers can access full details from our AI or our Accessory Dwelling Unit – All Agency Comparison under “Guideline References” in “Charts & Checklists”.
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