Updated over 4 years ago on . Most recent reply
Financing in Albany NY
Hi I'm looking to invest in my first rental property in the 518 area. I've had some discussion with larger banks (BofA) regarding investment loans and the down payment + closing costs seemed high (25k down and 8k closing costs on 100k property). Just curious if this is normal and if anyone had any suggestions on banks in the area with good financing terms for investment properties. Down payments of less than 25% would be great but not sure if any lenders do that. I also won't be living in the property so i don't think FHA loans apply. Thank you!