Rental Property Investor · FL · Member since 2016 · 271 posts · 92 votes
Greetings friends, thank you for reading this post.
I have been a member with NFCU 2010 or so.
Beginning of this year I applied for an investment loan, I noticed and have picked up dealing with multiple licensed mortgage brokers (NMLS) at NFCU that not all of them share the full correct information on investment loans down payment. Which cause some confusion or delays on my end. (Also due to not asking all the right questions)
Their investment products are very limited.
Single family (SFH), townhome, or condo = 15% down on 15 year fixed loan
Duplex = 25% down on 15 year fixed loan
Wanted to give a heads up and a quick summary that my help some during the beginning stages of learning what they need with them.
I will be using their product on a townhome to buy , fix and hold, since is in pretty good shape and only minor repairs. Versus using hard money lenders (HML) that requires 20% down payment.
Hello josh do they finance 3-4 units? Or is it only duplexes im Also a member of navy federal
Up to only duplex. Yeap, sucks.
But they do commercial loans so if you are a member, you can call and learn from what they offer. Regardless of if you are not ready or even have a business. This will serve you well when time comes correct in your journey.