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Updated about 5 years ago,
Buying Apt Building and making one unit primary residence
Could anyone please speak to the financing considerations of purchasing a multi-unit which one unit would be taken as a primary residence of the buyer. We are considering taking this approach to properties in the Seattle area. Specifically, are the lending criteria the same as a primary mortgage (ie. minimal downpayments) or is the property considered commercial and we require 20-25% down?