 TITLE: 3 Reasons to Buy a Multifamily Home CONTENT: You'll typically need a larger down payment—often 20% to 30%—when purchasing an investment property. However, multifamily homes with fewer than five units may provide a loophole. If you plan on living in one of the units, you may qualify for more traditional financing options. FHA loans allow for down payments as low as 3.5%, for example. If the home will be a traditional investment property that you will not occupy, you'll need to have good credit to qualify for financing. The minimum credit score for a mortgage used for an investment property is usually 620.\nNo matter how you finance your multifamily property, you'll want to pay extra attention to your home inspection. The last thing you want is to finalize the transaction only to find costly home repairs waiting for you on the other side. If all looks good, you'll move forward with the contract. Just keep in mind that your closing costs will increase your final spend by another 2% to 5% of the home price. END