Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago on . Most recent reply
Conventional loan for investment property
Which are the requirements to qualify for a conventional loan in Puerto Rico?
i am looking to purchase a multifamily unit.
1 year of employment, 25% down payment? Score?
Most Popular Reply
I'm licensed in Puerto Rico. Because Puerto Rico got a recent credit rating (FITCH) of D and Moody's also very low it's not easy.
FHA is available. Conventional also available FULL Documentation. Full Doc is 2 years IRS/PR returns net numbers.
@Aaron T. not just a bank. Many banks won't do them. Santander, Banco Popular, Oriental, Scotia, Citi you might ask and the teller says sure but they are closing none.
More than 4 units is difficult. Small multifamily under $750000 rare.