Portfolio and conventional loans

3 Replies

Is the down payment of a portfolio loan typically 20% like a conventional loan? Or lower?

I'm having an issue coming up with 20% Downpayment for a conventional, I can't do a FHA because I already have a primary residence and I would not be able to occupy the residence,want to stay away from hard money loans for now because of the interest rate and time frame of the loan. For example, I can afford 10-12% down on a 72,000 mortgage loan, any suggestions? Would I be able to get a portfolio loan at 10-12% ?

Originally posted by @John Garza :

Is the down payment of a portfolio loan typically 20% like a conventional loan? Or lower?

I'm having an issue coming up with 20% Downpayment for a conventional, I can't do a FHA because I already have a primary residence and I would not be able to occupy the residence,want to stay away from hard money loans for now because of the interest rate and time frame of the loan. For example, I can afford 10-12% down on a 72,000 mortgage loan, any suggestions? Would I be able to get a portfolio loan at 10-12% ?

 In my experience (I haven't been investing for long, so take it for what it's worth), portfolio lenders are 25% and up, usually 30%.

Originally posted by @Jerry Poon :
Originally posted by @John Garza:

Is the down payment of a portfolio loan typically 20% like a conventional loan? Or lower?

I'm having an issue coming up with 20% Downpayment for a conventional, I can't do a FHA because I already have a primary residence and I would not be able to occupy the residence,want to stay away from hard money loans for now because of the interest rate and time frame of the loan. For example, I can afford 10-12% down on a 72,000 mortgage loan, any suggestions? Would I be able to get a portfolio loan at 10-12% ?

 In my experience (I haven't been investing for long, so take it for what it's worth), portfolio lenders are 25% and up, usually 30%.

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