Buying a Multi Family Home Is Not Like a Primary Home
First why have you as a home buyer looking for a non-owner occupied multi family or for investment not talked to a mortgage lender? This is absolutely a paramount step before you even consider making an offer on a home that is a multi-family. Oh you say I can buy an investment home because I know what it takes to buy one. Sadly to say so many investors do not understand that lenders are not going to lend to you with 3.5% down. If you are all cash well you are golden and can proceed well with your purchase.
Has anyone heard that 25% down is needed to put down on an investment home that is multi-family? That is why I say talk to a lender if buying a mult-family even crosses your mind. Be informed, be knowledgeable and do not waste the real estate agent's or sellers' time with wishing about it. I am not a lender but an informed RI real estate agent that ensures my clients talk with the lenders in the know prior to proceeding with any offer. Make sure you are smartly guided in your buying process.
Investment home buying is not a simple down payment.
Waterfront, oceanfront, luxury and coastal Rhode Island real estate are my specialty but all of RI is my backyard. When you are in need of a knowledgeable RI real estate professional and specialist for your buying, selling or relocating needs and an internet savvy marketer who sells RI houses in this real estate market, call Ginny Gorman at 401.529.7849 today.
If you are looking in RI coastal real estate for multi families and you need great lending guidance, let me suggest some lenders to you to talk with and become monetarily informed of the process.
This blog © and its contents is original to Ginny Lacey Gorman
Ginny L. Gorman, a purveyor of Fine RI Waterfront Real Estate
Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich RI and beyond ... I sell dreams! Because there is no place like home...the RI Real Estate Agent in the Sparkly Red Shoes.
Looking for a knowledgeable Rhode Island Real Estate Agent? Let me GOOGLE one for you!
cell: 401.529.7849 Ginny Lacey Gorman, Realtor