Apartments for Cheap

Questions and Answers

Your Questions About Duplexes For Rent

July 19, 2012

John asks…

Is there a difference between a mortgage interest rate for a single-family compared to a two-family home?

I own a two-family home, aka duplex. I live in one unit and rent out the other. I am trying to refinance my mortgage and my mortgage broker is quoting a 3/8 of a point rate difference on a 20-year mortgage. Is this difference resonable?

Administrator answers:

3/8 rate difference compared to what? A single family home? If you are getting a Conventional loan, today, I have .25% difference between single family & 2 unit owner occupied. So you are being quoted .125% difference. Check around.

The FHA rate is the same for one or two unit but you would have upfront mortgage insurance & monthly.

Sorry—I forgot to add that LTV will make a difference on the Conventional loan. The lower the LTV the less difference. I was using 80% in the example above.

David asks…

What is a good website to find duplexes and triplexes for rent?

Administrator answers:

Sort of depends on where you want to rent them don’t you think. Remember that this is a GLOBAL community.

In the meantime the best answer I can give you is Craigslist which is pretty global. (

Lizzie asks…

do you have to pay for water and trash if you rent a duplex?

Administrator answers:

Maybe yes maybe no. Depends on your contract with the owner.

Joseph asks…

Looking to rent a duplex…?

I’m wanting to rent a duplex but I won’t be moving until August 1st. Does anyone know if duplex owners will even talk to me this early? Will they be willing to hold the duplex for a month til we can move in?

Administrator answers:

No, a months income is a lot to lose. It takes a very long to make up on that much.

If you want them to hold the unit just go ahead and pay rent for July as well. They can not force you to move in right away,

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