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Updated over 4 years ago,
Shopping around for mortgages
Hey all,
My business partner and I put down our first offer on a property! It is a 2 unit, 5 bed 3 bath.
The lender I was working with told me that we will need to put 25% down rather than 20% since it is a multi-unit property and not a single family.
Should I shop around with other lenders to see if they will allow me a lower down payment for a comparable rate?
This is probably the bottom of the totem pole as far as creative financing goes, but wanted to ask in this forum anyway.
Thanks!