Lowest down payment on a multifamily?

[Bryan Cavellier]

I am curious to hear everyone's lowest down payment (%) on a Multifamily property (2-4 units). Obviously there is 3.5% with FHA, but are there any low government programs or random credit unions/savings banks that allow 0-10%? I am currently in an FHA loan so can't open another one (not looking to refi quiet yet), but want to buy another property (multifamily, 2-4 units). ANY and all suggestions, thanks!!

Disclaimer: I am house hacking with a FT job... and am not rich so upfront capital is the problem at the moment. 

[Andrew Postell]

@Bryan Cavellier you can have 2 FHA loans under certain circumstances. The main one being that you would need a job transfer or something that would take you 100 miles or more away from your current property.

Now, most markets have some type of "downpayment assistance programs" that could help with your downpayment.  Since these are highly localized and very state specific I can't speak about each one but sometimes they do have restrictions on buying a 2nd property or a multi-family property.  

There is also a Fannie Mae loan that will allow 5% down...but it is income specific, so if you make over that amount for your area (a loan officer can tell you what the limit is) then you would not be able to qualify for that either.

All of these things point to getting local advice.  So try posting this in the NY forum (if that's where you are looking).  Thanks!