Down payment details

[Jessica N Sites]

Hello, my name is Jessica and I'm just now starting out in the resl-estate/investment property game. I am currently trying to buy a multifamily home (duplex to be exact) with an FHA loan; is it possible to buy a duplex with 3.5% down?

[Russell Brazil]

Originally posted by @Chris Mason:

Originally posted by @Jessica N Sites:

Awesome, thank you! 

Do you know of anyone in the Northern Virginia area that was successful in getting a duplex with 3.5% down? 

 @Upen Patel would be someone to talk to. @Russell Brazil too.

You will be hard pressed to find a legal multi on the VA side of the border at all. They will typically be found in DC proper. Multis are incredibly rare and in high demand and you will be competing against cash buyers whose intent is a condo conversion on them. But actually Upen and me helped a guy use a VA loan with zero down to get one. I had to find it off market. One of the keys with FHA and VA is its going to need to be renovated already. Unrenovated multis in the area wont pass an FHA/VA appraisal inspection.