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Updated over 5 years ago on . Most recent reply
Need a small mortgage rec.
I am buying another multi-family in CT, but it's a small mortgage; The cost of the house is $509k, and the lenders I've used it the past have little interest in financing it. I am told it's too small a they need at least 800k in financing. That is a bit out of reach for me right now, so I am hoping some people here would have some options. I can put 20% - 25% down, I'd prefer not to escrow the taxes and insurance (if possible). I'd also like to aim for a rate in the high 4's or low 5's.
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Originally posted by @Kenny M.:
I am buying another multi-family in CT, but it's a small mortgage; The cost of the house is $509k, and the lenders I've used it the past have little interest in financing it. I am told it's too small a they need at least 800k in financing. That is a bit out of reach for me right now, so I am hoping some people here would have some options. I can put 20% - 25% down, I'd prefer not to escrow the taxes and insurance (if possible). I'd also like to aim for a rate in the high 4's or low 5's.
How many unit is this property?