Is this mortgage possible?

Hi,

I have a meeting this Monday with a mortgage broker but I would like to understand something… :
I want a 4-3 family at a maximum price of 1m. So let’s say I do find a 3 family for 1m, and I can put between 10-15% down. Then what kind of mortgage can I get? And at what rate?
FHA is weird- I went to the gov website and it states that the max loan amount for a 3 family in Brooklyn is 1.2 but that just doesn’t add up. Is this true?

Thanks..

By Williams | 05/29/2009 11:35 PM