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Updated about 2 years ago,
Low Down Payment Options for 2-4 Multifamily Units
Hi BP,
I'm currently looking to put a low down payment on my first 2-4 unit primary residence, and I've been pre approved to go with FHA. A lot of the homes I'm interested don't qualify for FHA financing due to their requirements. Is there any other loan options where I can put a low % down? Based off the lenders I've spoken with for a 2-4 unit, the minimum with conventional would be around 15%-25%.
I've found a triplex that is asking for $235k that I don't think will qualify for FHA, but I don't want to take it out of the picture just because I can't afford it.
Thanks!