4-plex or + apartments - 25% down standard?
Interested in getting into 4-flex type apartment may be more units down the road. Is 25% down payment what is required from lender? Any other details on the loan that's different from traditional single family house loans?TIA! by dheart212139 from Allen, Texas. Apr 2nd 2021
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
More risk = bigger down payments and higher rates. Your standard Fannie Mae / Freddie Mac conventional loans do require a large down payments on multi-unit properties. Rates are also higher if you are not going to be living there. I lend in MN WI IA SD ND. I can be found at JoeMetzler.com - Cambria Mortgage NMLS 274132
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