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Updated over 3 years ago,
Finance question; Blanket loan?
Hello everyone,
I am hoping to purchase two properties side by side to one another, each with 2 homes on them. (4 homes in total). The plan is to live in 1 and rent out the other 3. Here's where I am confused...I know I can get into the owner occupied property with a conventional loan and 5% down while renting the other home. But what happens when I add the other property (2 homes) (that I obviously wont owner occupy) into the mix? Can I use a blanket loan for both properties and still maintain the 5% down, or is that wishful thinking? Any info/insight is greatly appreciated. Thank you in advance!!