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Josh Green's profile image
Josh Green's profile image
Josh Green
  • Realtor
  • from Tampa/St Pete/Clearwater/Bradenton
  • Member since Jul 22, 2020

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Josh Green's profile image
Josh Green's profile image
Josh Green
  • Realtor
  • from Tampa/St Pete/Clearwater/Bradenton
  • Member since Jul 22, 2020
Josh Green
  • Realtor
  • Tampa/St Pete/Clearwater/Bradenton
353
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395
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Private Lending & Conventional Mortgage Advice

Alternatives to FHA for low down multifamily purchases

Josh Green
  • Realtor
  • Tampa/St Pete/Clearwater/Bradenton
Posted

Hi All,

I'm really digging and am not finding much. I'm looking for advice on finding a low-down (<\= 10%), low interest rate (<6%), and 30 yr term lenders for owner occupant multifamily purchases (not FHA). Anyone have any advice or know of any contacts? I'm in the Tampa Bay area.

Thanks!

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Impact Realty Tampa Bay.
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Suncoast Vacation Homes
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Lucas Miles's profile image
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Lucas Miles
  • Rental Property Investor
  • from Fairmont, MN
  • Member since Oct 31, 2019

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Lucas Miles's profile image
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Lucas Miles
  • Rental Property Investor
  • from Fairmont, MN
  • Member since Oct 31, 2019
Lucas Miles
  • Rental Property Investor
  • Fairmont, MN
123
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Lucas Miles
  • Rental Property Investor
  • Fairmont, MN
Replied

@Josh Green another option is seller financing or private money. Couple options 1. If the seller would finance 90%+ of the purchase price (seller is basically the bank in this situation). 2. Bank provide 75%-80% in first position, seller holds a second mortgage of 10%+, you come up with the rest. Make sure your bank is okay with this setup, generally small local lenders have no issue with this. 3. Find a partner to come up with the down-payment money for a portion of equity/cashflow in the deal.

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