Can you take out a loan for an owner/occupant for 5+ units?

Can you take out a loan for an owner/occupant for 5+ units?

New to Real Estate · Los Angeles, CA · Member since 2020 · 9 posts · 1 vote

I know you can get an FHA loan with 3.5% down on 2-4 unit MFHs but if you wanted to invest in an 8 unit property and occupy one of the units is there a way to get a loan for no or low money down if you were to occupy one of the units and the numbers for rent added up to show you could afford the place when it is fully rented?

Any advice would be great! Thanks in advance.

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  • Colleen F.Pro Member
    Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
    6y

    This is commercial so I don't know of anyway to do it.  Maybe a lender can comment. 

  • Rental Property Investor · Chubbuck, ID · Member since 2018 · 532 posts · 466 votes
    6y

    You would have to get a commercial loan for a 5+ unit. Not going to get a 3.5% down. Probably not the best for a house hack.

  • New to Real Estate · Los Angeles, CA · Member since 2020 · 9 posts · 1 vote
    6y

    Got it. Makes sense. Thank you for your help @Craig Jeppesen and @Colleen F.

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