Small Multi-family loans

[Kate B.]

I have been in short term rentals for years and now want to try my hand at our first multi-family (duplex or triplex) to buy and hold, we will live in one unit and rent other(s). I have found a few in the $50k-$60k range and will need about $10k worth of renovations. We can put up to 20% down. Are there creative financing products out there for this type of scenario?

[Michael Craig]

@Kate B. FHA all day. Probably the most competitive rates you can get plus with 20% down you will not have a PMI. Look into an FHA 203k loan if you are considering financing the renovations.