How to buy a 2-4 unit building in Chicago as a primary residence with as little as 3.5% down, use projected rental income to help qualify, and offset the mortgage payment with rent from the other units. Covers FHA self-sufficiency rules for 3-4 units, realistic Chicago rent and price numbers, and which neighborhoods still work. Written by Jorge Flores, Senior Loan Officer at Neighborhood Loans, NMLS #224368.
Jorge A. Flores, Senior Mortgage Loan Officer, NMLS #224368. Neighborhood Loans, NMLS #222982. Berwyn, Illinois. Telephone (708) 220-3364. Service available in English and Spanish.
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Equal Housing Lender. Neighborhood Loans is an Illinois Residential Mortgage Licensee. This is not a commitment to lend. All loans subject to credit approval; program terms, amounts and availability are subject to change.