MULTI FAMILY PURCHASE
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A mortgage for a multi family purchase is usually secured by the same multi family residential property used to collateraized the loan.
It is always a good idea to use a down payment of 20% of the total purchase price in order to get the most competitive rates in the market.
You may need to take a closer look at some of the important factors listed below, before purchasing your next multi family property.
- Purchase price
- Fico score
- Debt to income ratio
- Property management (if used for investment)