Many new real estate investors worry about coming up with the down payment to finance a rental property. In this video, I speak with Katy Sychtertz from Princeton Mortgage about how you can put less money down when buying a multi-unit property like a duplex or triplex if you live in the property. 0:00 Overview 2:55 Defining Owner occupied vs. Investment only loans 4:38 How lenders view risk on investment only loans 5:49 Lender as a partner vs. cash buyers 7:22 Similarities and differences in loan process 8:12 Rental income help in qualification of loan 10:08 Appraiser's role in rent rate 11:30 Residency obligation explained 12:38 Asking a current tenant to vacate to fulfill residency requirement 14:58 Deciding which multi-family unit you will live in 15:49 Scale of down payment from 2-4 units 16:38 Financing for renovations coming back 17:34 How often can you repeat a house hack? 22:05 Advice about showing rental income on tax returns 24:40 Few thoughts on mortgage rates
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