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Private Lending & Conventional Mortgage Advice

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Michael K.
  • Chicago, IL
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Different type of loan?

Michael K.
  • Chicago, IL
Posted Nov 8 2014, 11:26

Hi everybody,

 I want to buy mulit unit building like a 3,4 flat. On a conventional loan from the bank 20% down i can get approved for 150k , and in and around chicago that dont buy you anything buy a beat-down property.

Is there a different type of loan that I can get? I want to buy a 3 flat for about 300k, and it already has renters in all the units. How do I get beyond the 43% DTI rule of the conventional loans?

Thanks,

Michael

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