25% Down on an investment property? Alternatives?

[Tim Ger]

Hello All,

So I am looking to invest in a 2 family and they have accepted my offer. My first deal.  This will be purchased as an investment property and my lender has informed me that it will require a down payment of 25% in order to take advantage of a competitive interest rate. 25% will really take me to my max financially and wont allow for money to be put towards repairs and renovations for some time. I have considered taking on a partner but was wondering if anyone has some creative financial ideas to make this deal work with 20% down, not 25%. Im Soooooo close

[Bob Okenwa]

1. Find another lender

2. Partner up

3. Take the 20% down option and weigh it vs the 25% down option. How much are you really saving with 1/4% vs the thousands you'd save in putting down 20% instead of 25%? How much time would it take to save the equivalent of money from the difference in a rate discount vs less down? How much is that 1/4% saving you a month?