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user794302

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Can I buy a second two family owner occupied home for less than 20% down?

Answer

Hi Ed,Thanks for taking the time to reply.I've asked a couple of brokers and gone directly to the bank that we have the mortgage with and both said you need 20% - 25% down for a second owner occupied home.This is our second year in our home.Would you perhaps have some other direction I could check out?Thanks again!D

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Can I buy a second two family owner occupied home for less than 20% down?

Hi,We live in Medford, MA and purchased our primary 2 family home with an FHA loan with 5% down.  We have currently expanded our family and outgrown our unit and would like to purchase another 2 family and rent our our current apartment. Is there anyway to do this without putting down a 20% down payment? Thanks for any info.D

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