Your First Fourplex: Low-Down-Payment Loans for 2–4 Units

Many first-time investors don't realize that a duplex, triplex or fourplex can qualify for home-buyer loans, as long as the buyer lives in one unit. It's one of the easiest ways to start owning rentals.

FHA loans

FHA loans allow as little as 3.5% down for owner-occupied 2–4 unit properties, for qualified buyers. Buildings with three or four units must pass a "self-sufficiency" test: the expected rents have to roughly cover the payment.

Conventional and other options

Conventional loans for owner-occupied multifamily may also have low down payment options. Eligible veterans may be able to use VA loans with no down payment. Rules and limits change, so ask a local lender which fits you.

Rent can help you qualify

Lenders often count part of the other units' expected rent toward your income. That can help you qualify for a bigger building than you'd expect.

Next step

Get pre-approved first, then call Anthony at (207) 590-9064 to find 2–4 unit buildings in York, Cumberland and Androscoggin counties that work as a home and a rental.