Updated about 1 year ago on . Most recent reply
SFR loan programs < 25% down
Recently completed a cash-out refi and want to take that money and buy 2 additional properties (~$200k or less each). Currently have 3 rentals and conventional lending has been my norm, but all the local lenders are predominantly 25% down. Some have a 20% down, but the rate rises significantly. Great credit scores and plenty of income from my W-2 source. Are there decent 15% or 20% options out there for purchases in Alabama?
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Patrick Roberts
#2 Private Lending & Conventional Mortgage Advice Contributor
#2 Private Lending & Conventional Mortgage Advice Contributor
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Patrick Roberts#2 Private Lending & Conventional Mortgage Advice Contributor
#2 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Charleston, SC
No matter what program you use, you're going to see a major jump in pricing/rate from 25% down to 20%, and again from 20% to 15%. No way around it. Gotta have some skin in the game.