Finanicing an owner occupied Fourplex

[Brannon Pierce]

Looking for a bit of information.  I am looking to finance a fourplex property in the Sacramento, CA area.  This will be my first home as I plan to live in it.  There will be 4 of us total on the loan.  Here in Sacramento a lender we qualified for will only offer a Conventional loan with 20% down.  However we would like to put down a lower amount somewhere around 10%.  Any suggestions on which type of loan we should seek out with a different lender, or creative ways to finance?

The units are all under one roof, so it is one building in decent areas and have HOA fees.

[Sherwin Gonzales]

Hey @Brannon Pierce, 

Congrats on finding a fourplex in Sacramento! Why is there 4 of you on the loan instead of just you or one of you? You mentioned that this is your first home, so you should be able to qualify for an FHA loan and put 3.5% down if the loan is just under your name. Have you talked to your lender about any strategies on "how" you can lower your down payment? You might want to talk to other lenders. I'm not a lender, but there are a lot of lenders here on BP that I'm sure will be able to help you!

Good luck!