Updated almost 11 years ago on . Most recent reply
Live in Multifamily
I am interested in purchasing a multi family unit. The property has 4 units, and I am wanting to live in one, and rent the others out. I know this is a common strategy, but my question is regarding financing. I cannot qualify for a conventional loan for the price of this property. I also cannot put 20% down. Seeing as how it will be my primary residence, will a bank give a standard loan taking into consideration rent from the other units?