How can I get a 30 year mortgage on a multifamily home?

Bangor, ME · Member since 2017 · 72 posts · 19 votes

I am looking at a 3 unit property. All units are full. How can I get a 30 year mortgage and potentially > than 20% down on this investment property?

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Andrew PostellPro Member

Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes

@Andrew Michaud realistically the only way to find a loan with less than 25% down would be to use a private person to lend you the money. Even the best portfolio loans will require 20% down minimum on a multi-family property.

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Ryan MurdockPro Member
Rental Property Investor · Austin, TX · Member since 2016 · 1k+ posts · 1k+ votes
9y
Suck it up for a year and owner occupy. Then move to another one and do it again.
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Harjeet BhattiPro Member
Lender · Glenview IL- CDLP NMLS#230554 · Member since 2015 · 2k+ posts · 747 votes
9y
You need 25% down payment for 2-4 units under investment.
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Andrew PostellPro Member
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
9y
@Andrew Michaud realistically the only way to find a loan with less than 25% down would be to use a private person to lend you the money. Even the best portfolio loans will require 20% down minimum on a multi-family property.
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Stephanie P.Pro Member
Washington, DC Mortgage Lender/Broker · Member since 2016 · 4k+ posts · 2k+ votes
9y
@Andrew Michaud
@Ryan Murdock is right.
Stephanie
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