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All Forum Posts by: Neo Yeung

Neo Yeung has started 1 posts and replied 2 times.

General Landlording & Rental Properties

Post: Applying Loan for high-rental-occupied Condo

Neo YeungPosted
  • Oak Park, IL
  • Posts 2
  • Votes 0

@Upen Patel Thanks! Will big bank such as BOA or Chase offer mortgage (typical 20% down) to this type of property (high-rental-occupied)? 

0 Votes
General Landlording & Rental Properties

Post: Applying Loan for high-rental-occupied Condo

Neo YeungPosted
  • Oak Park, IL
  • Posts 2
  • Votes 0

Hello all,

I have a question regards to loan application for a condo.

There are 3 units in this property and I own one of them. (A single house that was converted into 3 units). One unit has already rented out and I am planning to rent out mine. Will the 3rd unit has a difficult time to sell because the lender will not want to borrow money for a property that has high-rental-occupied? The property located at Oak Park, IL

Thank you so much!

0 Votes