All Forum Posts by: Carlos Cano
Carlos Cano has started 1 posts and replied 3 times.
Post: SoCal- Looking for 5% DP Conventional for 4 Unit
Carlos CanoPosted
- Ontario, CA
- Posts 3
- Votes 0
@Elise Marquette thanks for the info.
Post: SoCal- Looking for 5% DP Conventional for 4 Unit
Carlos CanoPosted
- Ontario, CA
- Posts 3
- Votes 0
@Caroline Gerardo I have the additional 5% but I would rather keep it in case of any emergencies or expenses I may need to make.
Would it make a difference if it was a 2 or 3 unit instead?
Post: SoCal- Looking for 5% DP Conventional for 4 Unit
Carlos CanoPosted
- Ontario, CA
- Posts 3
- Votes 0
My credit and DTI numbers are good. I was looking at a 4 Unit property in SoCal for $730k. This would be an owner occupied property.
Issue is, my LO is telling me that lenders want 20% DP for a conventional loan. I know I've seen others buy owner occupied multi-units with a 5% DP.
Any recommendations or referrals to a lender I can look into?
I can go FHA but many sellers in the area are requiring cash or conventional loans only.