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Updated over 4 years ago,
Large Loan on an Owner-Occupied Property
I'm looking at a 4-plex that costs ~$900k. I want to move into one of the units and rent out the others.
I'd also like to only put $100k down, which is about 11%. It would be great to get a conventional loan with low interest rate and high leverage if possible, as I've done with other places I've bought, but my lender says jumbo loans cap out at around $700k or something.
Is it possible for me to find a conventional loan with these terms? If not, what would my next-best option be?
It's in an area I know well and I'm confident I can make it cash flow. The biggest question is just the debt.
Thanks in advance!
Graham