Multfi-family lending conventional/ FHA
How does financing work for multi-family FHA/ conventional loans? What additional documents would the lender require for conventional loans?
Most Popular Reply
Erik Estrada
#2 Private Lending & Conventional Mortgage Advice Contributor
Lender
Pro Member
- Lender
- 1,732
- Votes |
- 6,417
- Posts
These loans are full doc, meaning 2 years of income docs and proof of funds for closing. Also as Devin noted at 3-4 units a self-sufficiency test is required, meaning 75% of the rents from all units must exceed the proposed mortgage payment.
In this market, conventional loans could be a better route.
- Erik Estrada
- [email protected]
- 818-269-7983
LuxePrivate Investments LLC
71 Reviews
5.0 stars