Keeping Mortgage Payments Low

[Xavier Wharton]

Hello BP Family, OBJECTIVE My wife and I want to make our first purchase a multi-family property (preferably a fourplex). We currently rent an apartment, but wish to become owners. PLAN: The plan is to occupy one of the units, rent another unit to my mother-in-law, and lluse the third unit as either a rental, or an Air Bnb. CHALLENGE: Similarly listed properties (multi-family/duplex/triplex/fourplex) go start around $500,000.00 and go up to $1.2million in areas that are considered "decent". QUESTION: If we were to qualify for a purchase, then aside from putting down a large deposit, how can we keep our mortgage payment low? Do lenders factor in credit scores as well, when calculating your mortgage payment (like a car-note)? Bonus Question: In California, has anyone used NACA (Neighborhood Assistance Corporation of America) https://www.naca.com/purchase/steps-to-homeownership/ Thank you -Xavier