Updated over 7 years ago on . Most recent reply
Question on financing first deal
Found our first deal and they have accepted our offer. It’s a single family and will be purchasing for $105k. Our lender has said we can do 15% down, and seller is paying $2k of closing, so total to come to the table with is right around $20k. Interest rate is 6%. Is this normal or are there other options I should explore for financing? We plan to keep, rent out, and make tiny improvements along the way (mainly cosmetic). Any input is appreciated!