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Updated almost 2 years ago on . Most recent reply
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primary residence duplex financing
Location: Roanoke, VA
I am needing a contact/advice on lending options for duplex investment property (only 2 doors). I was working with a local bank, whom was offering a conventional loan but required %25 down payment because it was multi-family. This seems very high considering this is a first time investment. I have the %25 but i am trying to utilize the least amount of skin in the game for obvious reasons.
I have heard of FHA loan options that would not require such steep percentages up front. I own a primary residence as of now, and this would be my first investment. I am also willing to move into said property to secure the favorable loan options.
Does anyone have a bank/lender contact/ advice for said situation?
Thanks ahead of time!