I am getting prepared to start deep diving into getting financing for a multiunit rental property. My initial understanding was I wouldn’t need about 20% down. But after a lot of research I see a lot of people are getting financing for duplex or quadplex’s with less than 20% down. So my question is, has anyone received or know of someone that has received financing with less than 20% down for turnkey duplex or a quadplex without doing a house hack?
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
4y
Without househacking (owner occupying) I think 20% is an improvement. I was often/usually required to put down 25%, especially after the first 4 loans.
This will depend if its owner occupied or not. Typically if purchased non-owner occupied the standard is 20% and can go up depending on number of units. With owner occupied multi family, FHA is a great opportunity and can allow for 3.5 % down. Ill send you a PM if you have further questions. Cheers