Final answer:
A two- to four-unit dwelling with an accessory unit is generally eligible for FHA financing, and zoning regulations may influence specific eligibility. Living in student housing close to campus and receiving financial aid are not mutually exclusive.
Step-by-step explanation:
The Federal Housing Administration (FHA) has specific requirements for the types of properties that are eligible for FHA loans. In general, a two- to four-unit dwelling with an accessory unit is considered eligible for FHA financing as long as it meets FHA's guidelines.
These guidelines often involve considerations such as the legality of the accessory unit, the adherence to local zoning and building codes, and owner occupancy requirements. There may be additional criteria regarding the size of an accessory unit or the total number of units on a property, but the question as stated does not provide those specific details, suggesting that there is not a strict square footage limitation for accessory units under general FHA eligibility rules.
Zoning regulations also play an important role in determining property eligibility for financing. These regulations generally manage the use of the land and the placement, spacing, and size of buildings. They can vary greatly by location and can dictate the type of housing allowed, whether single-family homes, multi-family dwellings, or townhouses, and may have specific preservation requirements in culturally significant areas.
As for the question regarding whether living in student housing within five miles of the campus and receiving some kind of financial aid are mutually exclusive, the answer is B. No. These two conditions can coexist; students can live in campus housing and also receive financial aid. The two are not mutually exclusive unless specified by a particular institution's rules or financial aid stipulations.