Investor · Bothell, WA · Member since 2017 · 11 posts · 12 votes
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?
Rental Property Investor · St Paul, MN · Member since 2013 · 91 posts · 45 votes
9y
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.