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Private Lending & Conventional Mortgage Advice

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Craig Garrow
Pro Member
  • Real Estate Broker
  • Malone, NY
70
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343
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10% down lenders with PMI?

Craig Garrow
Pro Member
  • Real Estate Broker
  • Malone, NY
Posted Apr 9 2016, 17:50
I'm eyeballing a triplex here in town, and looking to get some bank financing. My issue is that I just purchased a duplex with a 5% down "owner occupied" conventional loan and closed in January. This triplex is in an "A" neighborhood and could be a home run for me if I'm able to get it. I could do a 20% down conventional loan if I utilized Seller's Concessions, but it would be tight. Ideally, and I know this is near impossible, but, are there any 10% lenders out there? Or is this something I'd likely have to negotiate with a local bank or credit union?

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