Mortgage
Is the down payment requirement more on a legal 2 family house in NY than a 1 family house? by paul martin from Valley Stream, New York. Sep 26th 2011
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
It depends if your purchasing as an "Owner Occupied" or Investor... if Owner Occupied, then 3.5% for FHA, and 5% conventional are the minimum's. 1 to 4 units. There are other programs out there where you can purchase for $100 down to 3%, but it only applies to certain homes... If your purchasing as an investor, then the down payment will be the same... 20%+ WilliamAcres.com
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions
NO, there is NO DOWN PAYMENT DIFFERENCE between a single family home and a duplex.
Corey Barcus (Mtg_Pro)
#44 ranked lender in Pennsylvania - 16 contributions
Absolutly not, as long as you are going to live in the house. If its an investment property then there is a huge difference.
Ask our community a question.
Get an answer
Related Questions
