Looking for Company that still can write Investment Property with 10% Down

Private Lending & Conventional Mortgage Advice

Looking for Company that still can write Investment Property with 10% Down

Real Estate Investor · Wesley Chapel, FL · Member since 2014 · 14 posts · 3 votes

Looking to buy a 3rd Investment Property and looking to find a lender who will write a mortgage with 10% down. Property is located in Lexington, Kentucky.

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Dashon Jones
Residential Real Estate Agent · Paterson, NJ · Member since 2013 · 78 posts · 42 votes
11y
To my understanding, the only way to get that rate would require for the prospective property to be owner occupied.
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Robert Sepulveda
Lender · Newport Beach, CA · Member since 2013 · 264 posts · 97 votes
11y
The only way I've seen that possible is if you got the property at a big discount; are rehabbing to fix and flip; and willing to use hard money.
Some hard money guys will do up to 90% of the purchase if you're buying at 60 to 65% of the ARV (After Repair Value). So if you buy something at $100k, and it will be worth about $200k after you put rehab money into it, you're at 50% ARV. Some of the hard money guys will require 10, 15, 20% "skin in the game" as long as you show you have the reserves.
However, on buy and hold, which I suspect you're more interested in, I just don't think that exists with 10% down. If you qualify, you can get investor property financing on your third property from banks at 85%ltv (15% down) for SFR, and 75% (25% down) for 2 to 4 units.
Hope this helps
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Clay SmithBusiness Member
Investor · Louisville, KY · Member since 2013 · 419 posts · 244 votes
11y
There is a local bank offers 11% down loans. PM for info.
LREI Property Management LLC4.6449 Reviews
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