Rental Property lender

3 Replies

No lender will do anything 20% down or less right now. Most are at 25% down. This is not the time to get into the deal if you don't have strong liquid reserves or experience. 

I would expect the following terms: 20% - 30% down, 2-3 points @ closing, 1-12 months interest reserve (interest only payments held back @ closing). 

Hey Aamir, how many units is the property? And will you plan on living in it? If you aren't living in it, then you are probably looking at 25% down. If you do plan on living in the property then you're looking at 15-25% down, depending on how many units. 

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