Down Payment partner and conventional mortgage

2 Replies

I have a private investor who will provide the down payment for my first SFH investment property. I will manage and plan to refinance to get their money back. Planning on using conventional loan. Two questions: Is it possible to get a conventional mortgage with only 20% down, for non-owner occupied? I am guessing I can refinance from a conventional to a conventional? But most of my BP reading uses examples of 100% private lender to conventional, so looking for a little clarification as a new investor.

Yes it is however, not on an investment property. If the property is out of state it could be a second home purchase which would require 15% Down. Yes you can refinance from conventional to conventional.

@Ham Merritt thanks for advice. Currently looking in state, but will keep that in mind for the future.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here