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Updated almost 4 years ago,
Owner Occupied Buildings & Commercial Lending
Hello BP,
Was looking at acquiring a 6 unit property but I would live in one of the units and rent out the other 5. This would also be my new primary residence as I'm in the process of selling my current primary residence.
Would need to go through the commercial lending route due to the number of units. How much would I have to put down in this situation? I could swing the deal at 15% down but anything higher I would have to save some more cash. The property would be located in the metro Chicago area if that matters.
Any thoughts/tips/help would be appreciated!
Thanks