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.
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