2-4 Unit Financing (Owner Occupied)

[Michael D'Alessandro]

Hello,

I have been reading/hearing varying information regarding financing options for owner occupied 2-4 unit properties. I realize lenders can provide a multitude of programs from lender to lender, but I wanted to have a better idea of what is actually possible. I am familiar with the FHA "House Hack" option, I am curious to understand the conventional loan options. Is it possible to buy a 2-4 unit owner occupied property with as little as 5%-10% down with certain programs or more investor savvy lenders? Also, does the financing differ from 2, 3, or 4 units, or is it the same across the board if it is less than 5 units? Thank you so much in advance!

Best,

Mike

[Jeff White]

Hi Mike,

Where is @Chris Mason when he is needed?  Anyways, Home Possible conventional 5% down payment program is a fantastic one to use, you just have to find a multifamily that is in a low income tract so there isn't a restriction on how much income you make.  Also, the down payment would be the same whether you have a 2, 3 or 4 unit.  The rates would probably be different though. 

Check out Chris's post: https://www.biggerpockets.com/forums/49/topics/609...