Buying residential multi-family unit apartments ( 2-4 units)

[Justin Williams]

Hello,

 I’m in the process of obtaining a loan to buy a multi-family unit apartment. For 6 months, I’ve been renting out my house that I bought 1.5 years ago. With that being said this would be my second project, but I keep running into problems when going for a loan to buy the multi-unit. I’m an engineer that makes a little bit over 100k before taxes and my credit score is 688. I was told that “Due to my Mortgage Credit Score being 660ish. I won’t be able to get funded for a multi-family but I’m pre-approved to get another single family for 300k!” Never have I ever heard of this mortgage credit score or someone else being stopped from getting a loan for a multi-unit due to this issue. Can someone guide me through this process and help me understand what’s going on here? I want to get a multi-family unit not a single family. Feel free to respond however you can. Thanks!