Alternatives to FHA for low down multifamily purchases

[Josh Green]

Hi All,

I'm really digging and am not finding much. I'm looking for advice on finding a low-down (<\= 10%), low interest rate (<6%), and 30 yr term lenders for owner occupant multifamily purchases (not FHA). Anyone have any advice or know of any contacts? I'm in the Tampa Bay area.

Thanks!

[Lucas Miles]

@Josh Green another option is seller financing or private money. Couple options 1. If the seller would finance 90%+ of the purchase price (seller is basically the bank in this situation). 2. Bank provide 75%-80% in first position, seller holds a second mortgage of 10%+, you come up with the rest. Make sure your bank is okay with this setup, generally small local lenders have no issue with this. 3. Find a partner to come up with the down-payment money for a portion of equity/cashflow in the deal.