I need a bank/lender that offers 15% down with a 20 year mort

[Jeff Chapz]

Hello, I found an opportunity to purchase two 4 plexes from one owner. My mentor heard of a person who purchased a 4 plex in the past with 15% down for 20 years.

Can someone tell me of a bank in Austin, TX that will lend under those terms?

I thank you in advance.

Jeff.

[Mike D.]

I am borrowing from a local lender at 15% on my 4 plexes. The trick is finding a local lender who specializes in lending to investment properties.

You will have to call around a lot to find the loan officer who can do that. You can get a feel of what banks like lending to investors by parusing the recorded mortgages. Find a chunk of 4 plexes in town and see what bank is financing them.