Updated almost 10 years ago on . Most recent reply
Want to buy a 4 plex with 5% down
Hey guy's so recently I've been thinking instead of buying 2 duplex's in 2016 I'm probably leaning towards buying a 4 plex near my pizza shop. I want to buy as a first time home buyer with 5% down. So my question is regarding financing I get paid 60,000.00 annually and have 40,000.00 in savings, probably looking at 315,000.00 preapproval. But the 4plex's in my area go for about 475 to 500 will the lender look at the income I will be collecting from the other 3 units to help my debt to income ratio if not I don't see how I apply this strategy. Hey thanks for the insight in advance.