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23
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Dante Ritchey
  • Realtor
  • Worcester Massachusetts
6
Votes |
23
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Owner Occupied Lenders

Dante Ritchey
  • Realtor
  • Worcester Massachusetts
Posted Mar 28 2024, 06:45

Hello Everyone,

I am looking to see if you have any recommendations for low down owner occupied lenders in the area? Looking to get into my next househack and want to hear who has been successful for you all!

Thank you in advance!

User Stats

269
Posts
123
Votes
Derek Brickley
Pro Member
  • Lender
  • Ann Arbor, MI
123
Votes |
269
Posts
Derek Brickley
Pro Member
  • Lender
  • Ann Arbor, MI
Replied Mar 28 2024, 08:04

Hey Dante! Sounds like you already have one househack? If so, do you have an FHA loan on that property? Would need to know a bit more about your situation and what you might actually be looking for to see if we might be able to help. I more or less used myself for my househack and investments and I'd like to think it has all worked out well

Gold Star Mortgage - Derek Brickley Logo

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1,206
Posts
266
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Jacob Sherman
Pro Member
  • 12 Penns Trail Suite 138 Newtown, PA 18940
266
Votes |
1,206
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Jacob Sherman
Pro Member
  • 12 Penns Trail Suite 138 Newtown, PA 18940
Replied Mar 28 2024, 14:11

Are you a first time home buyer ? 

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779
Posts
377
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Brittany Minocchi
Pro Member
  • Lender
  • Massillon, OH
377
Votes |
779
Posts
Brittany Minocchi
Pro Member
  • Lender
  • Massillon, OH
Replied Mar 29 2024, 07:28

3.5% down with FHA on up to 4 units, sticking with a duplex will be your best bet to avoid the self-sufficiency test that a 3-4 unit will be subject to. If you want to go with conventional financing, you're looking at 5% down. Feel free to connect!

Barrett Financial Group, L.L.C. Logo

User Stats

23
Posts
6
Votes
Dante Ritchey
  • Realtor
  • Worcester Massachusetts
6
Votes |
23
Posts
Dante Ritchey
  • Realtor
  • Worcester Massachusetts
Replied Mar 29 2024, 09:08

Hey @Derek Brickley! We (my brother and I) used mass first time home buyer on the first one so have not done any FHA yet no.

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23
Posts
6
Votes
Dante Ritchey
  • Realtor
  • Worcester Massachusetts
6
Votes |
23
Posts
Dante Ritchey
  • Realtor
  • Worcester Massachusetts
Replied Mar 29 2024, 09:08

Hi @Jacob Sherman this would be our second property but we would be moving into it as a primary.

User Stats

23
Posts
6
Votes
Dante Ritchey
  • Realtor
  • Worcester Massachusetts
6
Votes |
23
Posts
Dante Ritchey
  • Realtor
  • Worcester Massachusetts
Replied Mar 29 2024, 09:10

Hi @Brittany Minocchi! Just shot you a message.

User Stats

269
Posts
123
Votes
Derek Brickley
Pro Member
  • Lender
  • Ann Arbor, MI
123
Votes |
269
Posts
Derek Brickley
Pro Member
  • Lender
  • Ann Arbor, MI
Replied Mar 29 2024, 09:30
Quote from @Dante Ritchey:

Hey @Derek Brickley! We (my brother and I) used mass first time home buyer on the first one so have not done any FHA yet no.


That's good, so then you would have a few options potentially. Depending on your situation, it may or may not be better to go one way or the other (FHA v. Conventional).

Gold Star Mortgage - Derek Brickley Logo

User Stats

1,206
Posts
266
Votes
Jacob Sherman
Pro Member
  • 12 Penns Trail Suite 138 Newtown, PA 18940
266
Votes |
1,206
Posts
Jacob Sherman
Pro Member
  • 12 Penns Trail Suite 138 Newtown, PA 18940
Replied Mar 29 2024, 09:37
Quote from @Dante Ritchey:

Hi @Jacob Sherman this would be our second property but we would be moving into it as a primary.


on multifamily as low as 5% conventional or 3.5% down FHA . Lets connect and discuss what the scenario is looking like

User Stats

23
Posts
6
Votes
Dante Ritchey
  • Realtor
  • Worcester Massachusetts
6
Votes |
23
Posts
Dante Ritchey
  • Realtor
  • Worcester Massachusetts
Replied Mar 29 2024, 11:15

@Jacob Sherman just sent you a message. Appreciate it!

User Stats

142
Posts
42
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Andrew Zamboroski
  • Lender
42
Votes |
142
Posts
Replied Mar 29 2024, 13:23
Quote from @Dante Ritchey:

Hello Everyone,

I am looking to see if you have any recommendations for low down owner occupied lenders in the area? Looking to get into my next househack and want to hear who has been successful for you all!

Thank you in advance!


 The site https://mortgagematchup.com/ should help you find a local mortgage broker. If you want to get even more craft, cross reference with local investor groups to see who may have the investor niche! Although any mortgage broker can help, someone who has a specialty in what your pursuing should make things easy.

User Stats

23
Posts
6
Votes
Dante Ritchey
  • Realtor
  • Worcester Massachusetts
6
Votes |
23
Posts
Dante Ritchey
  • Realtor
  • Worcester Massachusetts
Replied Mar 31 2024, 14:59
Quote from @Andrew Zamboroski:
Quote from @Dante Ritchey:

Hello Everyone,

I am looking to see if you have any recommendations for low down owner occupied lenders in the area? Looking to get into my next househack and want to hear who has been successful for you all!

Thank you in advance!


 The site https://mortgagematchup.com/ should help you find a local mortgage broker. If you want to get even more craft, cross reference with local investor groups to see who may have the investor niche! Although any mortgage broker can help, someone who has a specialty in what your pursuing should make things easy.


Appreciate it!