2nd Owner Occupied 4-Family Lending

[Raymond Lawton]

About a year ago I bought my first four family with an owner occupied loan.  I would like to buy another four family soon with a fixed rate 30 year loan, but was informed I could only buy up to a three with an owner occupied loan.  Does anyone have any advice for how I could obtain a 20% down or less fixed rate loan on my next 4-family?  Any help is greatly appreciated!

Thanks,

Raymond 

[Raymond Lawton]

Hi @Chris Mason , I appreciate your response to my post and have found your template helpful to better communicate what I am after so I have added my responses below.  If you have any loan type recommendations that would meet the criteria below that would be very helpful.

Hi @Dan Gamache thank you for the advice does your company do private lending?  I have added more info regarding what I am after below using Chris's template.

Your goals and story: I would like to buy a second 4 - Family Property and am interested in understanding what options I have available.

Type of property: Multi-Family (4- Unit)

Location of property: Massachusetts 

Purpose of financing: Purchase

Type of financing sought: Fannie/Freddie, private,  FHA

Current or prior ownership of real estate: Currently own one 4-Family Property that I have lived in for 10 months.

Occupancy: 30 Year Fixed Rate Investment or Owner Occupied Loan (I'd only want to live in it for at most 1 year if needed)

Down payment or equity: 20%, but preferably lower. 10% would be ideal.

Source of down payment funds, if applicable: Own funds

Income Source: Salaried/hourly W2

FICO: Excellent

Credit issues: None