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Updated over 6 years ago on . Most recent reply
Can I get an interest only loan without a downpayment
I found a fourplex I want to owner occupy but I’m currently owner occupying one. I have to wait about 11 months before I can move. Is there any way I can get an interest only loan or something to hold the other property and refi when I can move in with an FHA loan?
I don’t have enough money down for a conventional investment mortgage.
Most Popular Reply
Steve Vaughan
#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
An option to buy or MLO executed properly would hold it and lock you in. But that still takes some money. Is this an off-market deal directly with a tired landlord?
We simply can't buy and occupy every property that comes along, especially when we're broke. Scorched earth budget and 3 jobs is what most of us do early on.