Reccomendations for financing a fourplex

5 Replies | Houston, Texas

@Joel O'Leary and @Tony Castronovo thanks for the mentions.  Greatly appreciated!  @Brendan Flannery there should be plenty of lenders that can help you with 25% down.  Even some of the other lenders mentioned here are good too.   I do have a list of questions I would recommend asking your lender when you are interviewing them:

  1. When do you start using rental income to help me qualify? (the answer needs to be immediately)
  2. How long do you need me to be on title to refinance? (this is important if you do need a short term loan to purchase then refinance out - and the answer should be 1 day...very important that it is 1 day on title is all that is needed to refinance)
  3. What is my minimum down payment required? (not so important but if they only require 15% down on a single family home that is usually a good sign that you are working with a flexible lender)
  4. Can I change title to my LLC?
  5. Do you sell your mortgages?
  6. What is your loan minimum?
  7. Can you explain to me what your reserve requirements are?

Let me know if there is anything else I can help with.  Thanks!