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Will FHA finance a home zoned for commercial use?

Answer

FHA will insure homes zoned for commercial use only if they are predominately residential in nature (no more than 25% of the total floor space can be devoted to nonresidential use) and the use of the home as a residence is legal or legal nonconforming. The appraiser's site analysis must accurately reflect the attitude of the typical purchaser. Predominantly commercial or business locations, or locations subject to noise or other influences adversely affecting the use and enjoyment of the typical owner or occupant should be avoided. The appraiser must address the effect of the applicable zoning ordinances on the value of the property.
 

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