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Updated 7 months ago on . Most recent reply
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Owner Occupied, low doc Loan for multiunit investment property
Hello. I'm hailing from a suburb of Denver Colorado. I currently own and reside in a pretty large duplex (appx 5500 sq/ft). I'm renting them as non-traditional units (6 of them). I'm researching the possibility of purchasing another duplex or a triplex within the next few months.
My question is: Is there such a thing as an owner-occupied, non-QM loan for a multiunit investment property?
I want to limit the down payment outlay so I'm willing to move into the new property (trying to conserve as much cash as possible for possible renovations). I would like a non-QM loan and can provide bank statements from my current property showing steady income. I will also seek existing leases from any property I decide to buy.
Any suggestions on appropriate mortgage brokers in Colorado would be appreciated.
Thank you in advance for your input.