Financing Another Multi-Family. Ideas?
Hi I currently own a two family with an FHA loan. I want to but another house – 4 family. I was wondering what is my best financing strategy. My objective is the down payment – I’d like to put as little as possible. Any advise?
Hi
I currently own a two family with an FHA loan. I want to but another house – 4 family. I was wondering what is my best financing strategy. My objective is the down payment – I’d like to put as little as possible. Any advise?
First off, make sure you have over 25% equity in your current place, based on current values or appraisal. If you don’t, it’s unlikely they’ll finance another place for you, especially with a lower down payment.