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All Forum Posts by: Isaiah Bender

Isaiah Bender has started 1 posts and replied 1 times.

Starting Out

Post: Down Payments on a rental unit

Isaiah BenderPosted
  • Posts 1
  • Votes 0

Hello Bigger pockets! im just starting out with my realestate venture and I have a question that hopefully one you you amazing people can answer! so im looking to buy a 3 plex which has two renters already with one vacant unit. my question regards to the downpayment on the loan. if I lived in the unit I would have a down payment percentage of 3.25 but if I did not live in the unit it would be 20%. so my question is if its possible to live in it for a short period of time (a couple of months) to get the 3.25% rate then move back to my home or is that not allowed? any imput would be great thank you guys!

0 Votes