Financing in 06040>Question Details

ScottE, Home Buyer in Manchester, CT

How hard is it to get 80% Non-Owner Occupied mortgage on 2-4 units in Manchester/East Hartford. Good Credit.

Asked by ScottE, Manchester, CT Sat Aug 4, 2012

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Gregorio Denny’s answer
When I combine your 2 questions, I believe the answer you are looking for is that in order to purchase the 2 - 4 unit non-owner occupied property when you already have 4 mortgages you will need to find a Fannie Mae direct lender and put 25% down.
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Flag Sun Aug 5, 2012
You need to be at 75% LTV for a 2 - 4 unit investment property for conforming financing. You may be able to find someone doing it as portfolio in your area, but you would need to investigate that. You won't find what you are looking for with traditional conventional financing and obviously FHA is out of it's non-owner occupied.
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0 votes Thank Flag Link Sat Aug 4, 2012
Thanks for the information
Flag Sun Aug 5, 2012
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