All Forum Posts by: Jacqueline Nguyen

Thank you all for your help and input!

@Dave Spooner I wanted to go conventional route to avoid the upfront fees since I would eventually want to refi to conventional. Not knowing how the market would be, I was hoping to lock in on this low interest rate with conventional now in case it’s higher in About 2 years when I refi.

Thank you @Curt Davis! I am planning to owner occupy 1 of the units. I just thought it was strange that 3 lenders said 5% down is not possible even if owner occupied for conventional loan on a 4plex and only 1 lender said they can offer that. 

If I decide to go with the lender that is allowing 5% down on conventional, can anything go wrong here? 

Hi all! I've been reading a lot of forums on BP and saw many people say that 5% down conventional loans on a owner occupied fourplex is no longer existent. 3 out of 4 lenders I've reached out to also told me the same thing such that the lowest % down is 5% even if owner occupied for a multi-family. However, I spoke to one lender that said I was eligible for 5% down conventional loan OO fourplex because its still considered primary.

I'm feeling really uneasy about this and was hoping I can get some assistance! 3 lenders suggested I go to FHA route if I want little down but this ONE lender is saying I'm good for the conventional. Is this a red flag? I prefer a conventional loan on this fourplex but something isn't feeling right. Is the 5% conventional down on multifamily a rule across the board that all lenders need to follow or is it different for each lender? Please assist!