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Updated over 3 years ago,

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2
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Bhawani Min
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2
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Can you get a secondary loan on 3-4 plex

Bhawani Min
Posted

I am new to real estate investing. I am planning to buy first 2-4 plex. I have bought 1 house before in 2010. what is the best way to fund a multiplex for 20% down.. Here is the situation.

The 3plex is 1.9 million while the loan limit for high area is 1.27 million. I can put in 400K but how do you finance 230K. I have a lender for 1.27M but he says his lenders don't do secondary for 3-4 plex. Can I do 1.27M from my lender and 230K from another lender?

Also, as I am still below 80% will be secondary be high interest rate or close to 3% interest rate? 

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