I'm in contract on a 4plex in Alabama. My lender is telling me 25% down is required for mulitfamily. In Brandon's webinar he always talks about 20% down. Is that not an option for a four plex? should I look for a new lender? Anyone have a different experience with downpayment on four-plex or multifamily?
30yr conforming loans are now 25% on all small multi-family (2-4unit) for investment purchases. You might find a local bank to do 20%, or possibly get a commercial loan with 20% down (I wouldn't do that though), but unlikely if you don't have a track record. There was a time not too many years ago that you could get these loans for 20% down.
Thanks Dan B. for the quick reply. Sounds like I'm in a good spot then. Appreciate the help!