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Can a property with multiple dwellings be purchased with a conventional loan

by steven.kim733 from West Palm Beach, Florida. Jul 10th 2015 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

Conventional financing can be used to purchase up to 4 units. Anything over that is going to be a commercial loan. Pricing is higher for investment properties, but if you live in one of the units, you will get better pricing for owner occupied investment. FHA does have a commercial program that allows you to purchase apartment complexes, but only if you meet the governments criteria for "Affordable Housing" and offer your rentals to low income renters. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714

Jul 10th 2015
Stephen McWilliam (StephenMcWilliam)
#137 ranked lender in Florida - 45 contributions

If you can provide the address we can provide a more detailed and specific reply but the answer will most likely be yes with certain exceptions.

Jul 10th 2015
Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

Only up to 4-units, but are you saying the property has multiple detached properties on the same piece of land? If so, you may run into some other issues.

Jul 11th 2015
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