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Updated over 1 year ago,
How to get financing on a 2-4 unit multifamily while owning a primary residence
Hello all,
We currently own a 4 bed 2 bath primary residence that is valued at $425k. We would like to rent out our primary and buy a 2-4 unit multi-family owner occupy. I reached out to a lender and they stated that it will be difficult to do because the new purchase must be greater in value, space, rooms, ect... How do I get over this hurdle? What options do I have? Should I check multiple Lenders? We do not want to sell our current home. Thanks in advance for any insight.