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?
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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.