Down Payment Assistance on Multi Family Property

[Danny Sanchez]

Hello everyone, 

I want to hear everyones opinions on using downpayment assistance programs for a multi family investment. I know that nothing is free, and that some programs require you to pay the DPA loan back before you move out but what else is there to have in mind that I should know about. What is something you don't recommend or do recommend?

[Andrew Postell]

@Danny Sanchez most downpayment assistance programs won't provide assistance on a 2-4 unit property.  The thing I would encourage you to do here is to speak with your realtor about what lenders offer DPA or First Time Homebuyer grants.  And then interview those lenders on what programs are even available in your market for 2-4 unit properties.  There might not be any.  But reach out locally and see if there's any option at all.