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Updated over 16 years ago on . Most recent reply

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16
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1
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John Nail
1
Votes |
16
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Com loan VS Res loan

John Nail
Posted

From my understanding, a com loan is used with 5 units or more, but at what percentage would the bank need or require for down payment? I see a 35 Unit in my area but only have 2k on hand.

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8,666
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Jon Klaus
  • Developer
  • Garland, TX
4,017
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8,666
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Jon Klaus
  • Developer
  • Garland, TX
Replied

Do dream big! And start with steps that will propel you forward in the direction of your dreams. Yes, if you don't own a home, now would be a great time to buy one. Or a duplex. Get yourself a 5% fixed FHA mortgage with very little down. Save, save, save your money and build, build, build your credit.

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