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Updated almost 10 years ago on . Most recent reply

Kait Hill's profile image
Kait Hill's profile image
Kait Hill
  • from Little Rock, Arkansas
  • Member since Jul 8, 2015
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Kait Hill's profile image
Kait Hill's profile image
Kait Hill
  • from Little Rock, Arkansas
  • Member since Jul 8, 2015
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Kait Hill
  • Little Rock, AR
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Multi-Family and Apartment Investing

First Time! Need help asap!

Kait Hill
  • Little Rock, AR
Posted

So it's my first time purchasing a place and I have found a perfect 4-plex for a wonderful price. One lender is saying I need to have 25% down in order to buy it but I am looking to live in the house as well. Is there a way to get around the 25% downpayment? All advice would help tremendously! 

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Kelly N.'s profile image
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Kelly N.
  • Investor
  • from SE, Michigan
  • Member since Feb 24, 2013
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Kelly N.'s profile image
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Kelly N.
  • Investor
  • from SE, Michigan
  • Member since Feb 24, 2013
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Kelly N.
  • Investor
  • SE, MI
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Kelly N.
  • Investor
  • SE, MI
Replied

Hello Kait,

If you get an FHA loan (owner occupied only) you can put down as little as 3.5%, the 25% is for when it is only an investment and you won't be living there.

Kelly

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