Updated almost 10 years ago on . Most recent reply
Own a condo but want a 3-unit, how can I finance?
Greetings, all! I currently have a FHA mortgage on a condo that I'm renting out. I want to purchase a multi-unit building for myself and other family members. According to mortgage lenders, I can't get another FHA loan and a conventional loan will likely require 15-20% down plus 6 mos reserve. I don't have that kind of money on stand by. I'm trying to do research on my options but not really sure where to start. Can anyone point me in the right direction or provide some alternatives to the conventional options out there? Thanks in advance!