houses hacking, prequalification's letter.

[Chimi Nayan]

hello,

please i am looking for a agent who can help me buy a multifamily houses southern California with my employment authorization ' co8 ' and social security. i have a asylum pending case... 

thank you.

[Matthew Kwan]

HI Chimi, there is FHA that you can use for 3.5% down payment for 2-4units multifamily. As for conventional, it could be 15-25% down payment for multifamily depending on how many units. Typically rates are lower for FHA but there are more upfront cost and mortgage insurance can be higher than other loan products. As for conventional, rates can be higher, but the cost at closing and mortgage insurance is typically lower. It depends what your strategy is, would you prefer put more down payment upfront or pay more in the long term by spreading out the payment in 360 months. Happy to connect as we're located in Irvine, CA as well @Carlos Valencia @Albert Bui