fixed rate loans for investments

[John Jasko]

I've been told by a few local lenders that the only conventional loans available for investment properties (duplex or triplex, I will not be living in the property) are 15 year fixed or 5 year ARM. However, I hear/read BP folks talk about 30 year fixed loans. What really are the options?

[Robin Simon]

Are you looking for "conventional" only or would you consider non-QM/DSCR loans (like conventional, but much less documentation/way easier qualification, rates about .5-.75% higher). There are plenty of 30-year fixed options in DSCR

[Issac San Miguel]

I'm not sure about conventional - but for non owner occupied there is a 30 yr product called a DSCR loan.

There are 30 yr fixed with I/O options for the first 10 years as well.

Rate depends on coverage ratio and credit - likely in high 6s or 7s.

[Miranda Holland]

Lenders vary when it comes to just about everything. There are plenty of lenders that have 30 yr fixed rates but there are plenty of lenders that don't have long term rates at all.  You have to either find a lender that offer the loan you need for your situation or, work with a broker who will match you and your deal with the right lender 

[Dave Skow]

@John Jasko- there are plently of 30 yr fixed loan programs avaiable for MFR

[Nicholas L.]

This is not accurate @John Jasko

There are definitely 30-year fixed rate, conventional mortgages for duplexes and triples - they will likely require 25% down

There are also DSCR loans available based on the rental income of the property - they will likely require 20-25% down

Call more lenders

[Raymond J. Rodrigues]

Everyone is giving responses to everything but the question that he is asking. We need less soliciting and more knowledge being contributed to these forums.

@John Jasko your speaking to the wrong conventional lenders. 2-4 units for investments, with conventional financing require 25% down and come primarily with 30 year fixed options. You may have the option of taking an adjustable rate mortgage. If you have any other questions, always feel free to reach out. 

[Nicholas L.]

I only saw one person who seems to be a lender themselves - the rest of the responses (including mine) were informational

I was not soliciting