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Updated about 6 years ago,
Purchasing another primary residence with less than 20% down.
So I purchased a primary residence in the Houston, TX area back in 2015. I lived in it for two years and at the end of 2017 I moved to Boston, MA where I am renting. Since moving out, I have leased out my primary residence in TX and it has been a rental since January 2018. I have just signed an extension to this lease until December 2019. I purchased it in 2015 with only 10% down and I believe I have now somewhere in the 15% equity in it.
I am looking to move back to the Houston, TX area now and am interested in buying a multi-family. My question is, can I qualify for another primary residence and can I put less that 20% down on it? Ideally I would like to put 5%-10% down on the multifamily. Is this possible?
Edit: I would be living in one of the units in the multifamily.