203k Loan

[Nick Brown]

Hi Investors! I have a few questions on a 203k Loan. I was told by a Broker that When you need a co-signer (which I will and I can get) that you can not do a 203k Loan with 3.5% down on a owner occupied multifamily. You would in that case have to put 20% down.

In order to put 3.5% down when needing a co-signer would be on a single family only.

Any thoughts? Are there other loans I can look into? SONYMA? Would love to hear your opinions..NY located

- NB