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Updated almost 9 years ago,
Jumbo Loan for first deal?
Hello! As a brand new investor, would a jumbo loan be a good option for a multifamily property (looking at tri/quadplex)? Looking in the city of Chicago and would be putting down less than 20% due to the high cost of multifamily properties in this city. Credit is over 800. Looking at 400-600,000 for a jumbo loan and income currently is ~80,000/year. Any thoughts or input? Too risky for first deal? Thank you for all the input!