Duplex
A single building with two separate units, each with its own entrance and kitchen. Owners often live in one unit and rent the other.
Also called: two-family home, 2-unit, triplex, fourplex, quadplex
Related terms
A building with two or more separate housing units. Properties with two to four units can use residential loans; five or more are usually financed as commercial.
Living in one part of a property and renting out the rest, such as other units, rooms or an ADU, to offset housing costs. It often lets buyers use owner-occupied loans with lower down payments.
Real estate bought to rent to tenants for income rather than to live in. Lenders, insurers and tax rules treat it differently from a primary residence.
A mortgage insured by the Federal Housing Administration, allowing low down payments and more flexible credit standards. Borrowers pay an upfront and annual mortgage insurance premium, and loan amounts are capped by county.