Small multi family unit in Portland, Or

[Nolan Clark]

Hi, I’m hoping a Lender or anyone with this knowledge can chime in. My wife and I are looking to buy a (2-4) small multi family unit property here in the Portland, Or metro area. This would be an owner occupied property. My current lender just explained to me that it’s 25% down minimum for this type of property whether it’s Owner occupied or not. Is this Lender specific? Or does she just have incorrect

Info?

[Mathew Wray]

Time to find a new lender!

Or, more realistically, if you have a history with them and want to stay in relationship then go back and have another conversation with them...maybe there was a miscommunication or they misunderstood a key point while talking about your plan?

There are tons of good lenders in our area and while loyalty is important, so is getting the correct info! definitely can get a 3.5% down with O/O. 

Mathew