Loan types for low down payments
3 Replies
Steven Schaad
from Farmers Branch Texas
posted over 1 year ago
so I have a house that looks like a great deal. But I only have the money to put down 10%. This would be a long term loan for a rental duplex. What type of financing should I look for?
Danielle Wolter
Rental Property Investor from San Diego, CA
replied over 1 year ago
@Steven Schaad If you can move into one half and rent the other (house hacking), you can probably qualify for FHA, which only requires 3.5% down.
Chris Mason
(Moderator) -
Lender from Oakland, CA
replied over 1 year ago
For owner occ 2-4 unit and low down payments, FHA is more or less the only game in town at present.