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Updated about 9 years ago,

Shailendra Thakur's profile image
Shailendra Thakur's profile image
Shailendra Thakur
  • from Metuchen, New Jersey
  • Member since Nov 14, 2015
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5
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Shailendra Thakur's profile image
Shailendra Thakur's profile image
Shailendra Thakur
  • from Metuchen, New Jersey
  • Member since Nov 14, 2015
Connect
Shailendra Thakur
  • Metuchen, NJ
1
Votes |
5
Posts
Private Lending & Conventional Mortgage Advice

Looking for conventional loan with 10% down on Multifamily Home

Shailendra Thakur
  • Metuchen, NJ
Posted

Hello BP.

I am planning to make an offer on multifamily in NJ. The mortgage guy told me that no lender would offer me conventional loan as it is a multifamily and I am only putting 10% down. They minimum need 20% down. He recommended to apply for FHA loan which has higher interest rate and PMI lasting forever.

Please advise.

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