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Updated almost 6 years ago on . Most recent reply
First time home buyer/Investor Charlotte NC
I have been applying to conventional/FHA mortgage lenders all week. I got preapproved for a conventional mortgage with Better Mortgage. But when I tried to adjust from a single family to a multifamily property. 1-4 units the website said that wasn't available?
Has anyone else had this problem?
Other lenders are trying to get me to use Fha which I would rather not use.
Anyone have any recommendations on a good investor friendly mortgage lender in the Charlotte nc area?
Most Popular Reply
@alberta
@Alberta Eleazer You indicated in your post you're looking for an "Investor friendly" lender, so I'm assuming you're looking for an investment loan. FHA does not do investor loans, the exception being if you're going to live in one of the units. Otherwise, you'll want to stick w/ a conventional loan product - Fannie Mae and/or Freddie Mac products...25% down for quads, 15% down for duplex and as little as 3% for 1 unit SFR.
Good luck!