Real Estate Agent · Knoxville, TN · Member since 2021 · 7 posts · 1 vote
Hey everyone!
How many times can you use 5% down for a conventional loan if you owner occupy each time? For example, could I put 5% down on a 4-plex and live in one unit for a year then move out and repeat the process and buy another 4-plex for 5% down?
Hi @Account Closed YEP, do it!! The loan terms usually say that you need to live in the property for 1 year for an owner-occupied loan. In that time, you can start saving for another down payment and continue the cycle. One thing to keep in mind... if you live in the property for 2 of the last 5 years from when you sell, you don't pay capital gains tax so that could be a huge benefit if you live in an appreciating market.