For a single unit (Condos included) The loan limit is $410k
A 2 unit is capped at $524,850
A 3 unit is capped at $634,450
A 4 unit is capped at $788,450
RpV Realty and Development
It is a loan limit, not a purchase price limit. So, yes you can put additional money down to keep within the limits. I can recommend some great lenders to talk to for your pre-approval. There may also be conventional loan options that require less than 20% down.
Are you working with a Realtor yet to help you find what you are looking for? If not, I would be happy to talk to you about working together.
All the best,
Quality Mortgage Lending
Condo Approval Professionals LLC
Work with a Realtor who knows income property, and has a good lender versed in FHA to ensure you are making a good decision and an offer you can back up with a loan you can live with.
Feel free to drop me a line if you'd like more information or consultation.
You will just need to put down enough to get the loan amount down to the limit
Senior VP of Mortgage Lending
773 290 0455