Financing help with down payment or low LTV

Financing help with down payment or low LTV

Investor · Roanoke, TX · Member since 2016 · 37 posts · 4 votes

What type of financing options are out there for duplex and fourplexes that are low LTV or help finance a down payment?

Any help or advice is appreciated.

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  • Will FraserPro Member
    Real Estate Broker · Salt Lake City & Oklahoma City · Member since 2018 · 3k+ posts · 2k+ votes
    7y

    Howdy @Paul I.!  That depends on whether you'll be living in it or not. If you don't plan to live in the 2-4 unit property, then you'll be looking at a 20-25% down mortgage loan or a 15% down commercial loan usually.

    If you are going to be living in it then a whole world of low down payment/high LTV loans exist. These include, but are not limited to FHA 3.5%, Conventional 3-5% down, and "Dreammaker loans" (like what Chase does in most markets right now) that can offer extremely low down payment loans AND some stimulus money to help towards that.

    I hope this is helpful in your journey!

  • Rental Property Investor · San Antonio, TX · Member since 2019 · 69 posts · 12 votes
    7y

    @Will Fraser Conventional 3-5% avoids the additional PMI insurance? Under what conditions would a multi family home qualify for that?

  • Member since 2019 · 17 posts · 3 votes
    7y

    @Brandon Kingcaid call the bank and ask 

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