10% Down Investment Loan?

Question

Is anyone familiar with any banks that offer a 10% down investment loan? In the past Mountain America Credit Union offered this, but they bumped it to 15% down required last week.  Wanted to see if anyone is familiar with any similar loan programs out there, as the less down required obviously the greater ability to purchase more properties!

Andrew Syrios · Answer

You're only going to get 10% down on homeowner loans. You could do it with a hard money loan but it will cost an arm and a leg

Upen Patel · Answer

@Tanner Stallings - Min for residential investment (1-4 unit) is 15%. If your profile fits and if you can qualify, you can do a 2nd home loan with 10% down (1-unit).

Dave Skow · Answer

@Tanner Stallings- most ( if not all ) lenders are require  15% ( or more )  down  these days  ....you might  check with the  smaller to  mid size  banks and  credit unions that are  near the  property location for  options ...you might also  check with the place you  bank with ...good luck

Ty Coutts · Answer

Hello @Tanner Stallings!

Sadly, there are almost no 10% down financing options out there for investment properties anymore. However, there are some creatives ways in which you can purchase a "second residence" with a 10% down conventional loan. I have helped several of my clients do this but there are certainly some nuances to cover, so feel free to call or message me directly and I would love to chat about all the details.

Also, we finally just last week had one of our DSCR investors come out with a 15% program again which is amazing as I know not many are out there right now.

Best of luck finding ways to use other peoples money and building your portfolio!!