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how do you estimate down payment and monthly mortg. on a owner occupied 4 unit apartment residence?

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September 04 2013 - West Adams
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This isn't something that is going to be self serve. Even with FHA financing it's not a blanket 3.5% down payment on a 3 or 4 unit property. It depends on what the units rent for and how much of the PITI they can cover. There is a calculation on how much the loan amount can be and you will need to know the taxes and insurance along with the rents to figure that out. It's different for each property. Contact a good FHA lender in your state for details.
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September 04 2013
Down payment will depend on what program you are using. FHA only requires 3.5% down with a good enough credit score. Conventional you are looking at 25% down. Keep in mind, it must be owner occupied. As far as estimating your monthly mortgage, you'll need to add principal & interest, property taxes, homeowner's insurance, and (if applicable) mortgage insurance and HOA/PUD dues. Your best bet would be to contact a Loan Officer to work those numbers for you.
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September 04 2013
Here is a link that you can use to get the information you are requesting.
http://www.zillowpress.com/edwardurealtor/search-mortgages/#

You can input the numbers you are working with to get your answer. Interest rates change daily, so payment will change accordingly, currently prevailing rate is hovering at 4.47% for a 30 year fixed conventional loan. As part of you overall mortgage payment you would also need to add Property taxes and Insurance. Property tax varies from county to county.  Hope this answers some of your questions. If you have any additional questions please do not hesitate to contact me.  
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September 04 2013
 
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how do you estimate down payment and monthly mortg. on a owner occupied 4 unit apartment residence?
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