rates for conventional mortgage MFH

[JC Smith]

Hello!  I'm looking at purchasing my first MFH soon (duplex or triplex) via a conventional loan.  I got a quote from a local Minneapolis lender which was 25% down and 5.625% interest rate, no points.  Should I keep shopping around or is that good?  I've read some people can have found lenders who will do 20% down, which I would prefer- but just wondering if times are changing and 25% is the norm now.  Also, I've heard people on here talk about purchasing a small MFH through a commercial loan- any thoughts on that vs conventional?  Thanks!

[John Woodrich]

That is a high rate - that sounds like more of a portfolio loan rate which may be what they are quoting you if your DTI ratio is too high. If it is a 20-25 year AM that would also confirm this.

I will also recommend @Tim Swierczek, he helped me close on a 4 plex loan at the end of November.  25% down, 30 year amortization, 4.625%.  

Many banks just give you a rate or two but Tim gives you all the options and information to make the right decision.