Rental Property Investor · Atlanta, GA · Member since 2014 · 57 posts · 10 votes
Hi,
I have a good friend is getting started in REI. As advised he found a 4 plex he wants to live in while renting the other 3 units. The seller doesn't like that the deal is an FHA owner occupant loan. He has very good credit and income with extremely low debt to income ratio.
Any leads on community banks that will finance owner occupant loans on a quad? Or a non conforming loan where the bank holds the paper? (For Me)
Professional · Ellenwood, GA · Member since 2016 · 64 posts · 18 votes
10y
I know this was a a long time ago, so I'm sure the deal is done. But I'm curious, why were you looking for a community bank? That seems like a basic deal any bank would do.