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Looking to buy investment property (multi-unit) and I will be residing in one of the units. 20% down payment required?

by k.andro208 from Whittier, California. Oct 7th 2016 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 7,402 contributions

More info needed.. When it comes to Conventional financing, the Loan to Value (LTV) is different for 2 units (85% LTV), and 3 to 4 units (75% LTV). anything over 4 units, you cannot obtain conforming financing.. only commercial, and if you live in a commercial property, you will limit your lending choices.. With FHA, owner occupied investment, you can go as little as 3.5% down. In the past, one area of loan fraud was folks purchasing a property for investment, but stating they are going to live in it.. for this reason, you need to understand that the underwriter will scrutinize your file if you are exiting a large single family home, and now want to live in a much smaller duplex, triplex or 4plex.. so be prepared to give a compelling letter of explanation.. 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 WilliamAcres.com NMLS# 226347

Oct 10th 2016
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Larry Gray (lgray_312_247)
#1 ranked lender in California - 900 contributions

I do mortgage loans on multi unit dwellings of 2 to 4 units for a primary home purchaser with 3.5% down payment, FHA, or 0 down VA. Please feel free to contact me via my profile with any questions you might have.

Oct 11th 2016
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