Archive for the ‘refinancing’ tag
30 Year Mortgage
Can you get a conventional mortgage for 30 years a 2 family home?
Or does it have to be another type of loan? What kind of loans then? Rates are significantly higher than?
Yes you can get the loan. These rates will be higher if you will not be occupied one of the units in property. If you want to buy with the intention of renting both units, it would be considered an investment property. In this case, a higher price because greater risk for the lender with an investment home. One of the best things about a loan for a 2 family will be able to use a portion of the expected rents to help you qualify. Good luck.