Updated over 5 years ago on . Most recent reply
Down payment on first small multi family
I am new here so take it easy on me..,I currently own my own home and am looking to purchase my first multi family rental unit. I have called around and have been quoted 25% down by all lenders so far...is this standard? Will I find any conventional loans for less down?
Thank you
Chris
Most Popular Reply
25% is the standard from both Fannie and Freddie, which is where you go if you want to be able to cashflow after paying the interest rate.
We are currently still seeing lending get tighter by the day. That's more likely to become 30% than 20%.