Getting a mortgage for a 3 family

2 Replies

Hello everyone,

Is it possible to attain a mortgage for a 3 family home for 750k putting 140k down? So 610k mortgage.

Let's assume the buyer has amazing credit, makes 70k a year, has 140k in cash and will live in the 3 family in the smallest unit renting out the other 2 units to the current tenants for $3,500. The buyer has 0$ debt and 0$ monthly expenses except for food, car insurance, gas for car, utilities.

Is it possible to get a mortgage for 610k from a bank with this salary? I imagine the bank will not want to rely on the rental income for the mortgage but I do not know.


That is a mortgage question for your local lender that services the state the property resides in.  A lender will have to do get an application started and look at their debt to income level and see if they have a program that qualifies for that type of arrangement.

Jim Sakalis

@Cam Roberts The viability of the mortgage depends on the other debt the buyer has. If its truly zero, then great.

In terms of the rental income from the subject - Yes, it can be used. Just depends on the lender. Find a lender that will.

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