Hi folks. I’m looking to rent out my current home and move into a duplex and rent out the other side. I was wondering if any of you know of lenders who are willing to do that kind of loan in the Dallas-Fort Worth area?
It’s just a regular owner occupied duplex loan...fha or conventional (Fannie/Freddie). Just talk to a local good mortgage lender to find out if you qualify for the loan, and under what conditions.
As mentioned these are common owner occupied loans.
An owner occupied conventional duplex loan requires 15% down payment and FHA requires 3.5% down. FHA will want an explanation on why you are looking to go from a single family to a multi-family.
@Jerry Padilla Under what conditions would it be possible to get an owner occupied conventional duplex loan with a 5% interest rate?