Updated over 4 years ago on . Most recent reply
Mortgage Down Payments
I am working with a seller on an off market tri-plex investment property in Wauwatosa Wisconsin and have been searching around for leaders. We have a few lenders that we work close with and are seeing 25% down at most credit unions and banks. Is anyone seeing 20% down or less for an investment property? I understand rates and points will vary. The purchase price is $290K.
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Unfortunately, since COVID hit, all of my contacts have said that they can do 20% on single family or 25% on 2-4 families. I have talked with one other lender that would go down to 15% but it was buying I think 4 or 6 pts.
Not sure how the cash flow is looking but I just talked with the commercial side of another and he can do 20% down on a 5/1ARM - 20yr Amm.