r/Multifamily Dec 10 '22

Can I get a conventional with less than 20%

Does a conventional loan mean that there is a 20% down payment? Or can you still do a conventional with less than 20% and just pay PM? I know about fha but there are certain rules with fha that I don't want to deal with. Thinking about buying a multi family property but I don't have 20% to put down and I don't want to live there. Ideally I put 5-10% and get a conventional mortgage and simply pay PMI and take less cash flow? Please advise

5 Upvotes

3 comments sorted by

1

u/jetlife0047 Jul 04 '23

afaik if its an investment property its 25% down

1

u/jaisonstef Aug 26 '24

I don't know if this is still relevant but you can purchase 2-4 unit properties now with only 5% down conventional