Need bankers which offer 20% Down for Investment properties

8 Replies

I recently got my offer accepted for a duplex but almost all the banks are asking for 25% down and I always thought 20% is the go-to way to get things done. I really need some asap replies to pinpoint some banks which still offer 20% down in Minnesota. Sorry I'm pretty new to the biggerpockets so I dont know where else to post this urgent request. 

If you intend to occupy unit you should be able to to get conventional lending for less then 20% down, but that is for

owner occupied. You may want to search local meet ups in area to see who other investors are using.  getting good lending answers tends to be a regional question, try to find a local source.

@Tarunveer W. don't quote me on this but I believe capital one does 20 percent down for duplexes. It goes up to 25 percent for a triplex or quad.

Hope this helps. Pm me if you have other questions

@Harjeet Bhatti , 25% isn't universal for an investment property. For the SFH I purchased and the two I'm in contract for it has all been 20% down. I do believe it is 25% for multi-family properties which aren't owner occupied. I'm not sure if as @Caleb Heimsoth says, the 25% is for triplex or quads, but could be as low as 20% for duplexes or not.  Best to contact several lenders and see what they have to say.   Don't forget to account for closing costs and have reserves in place so your financing doesn't fall through.

I was saying capital one can do 20 percent down up to duplexes and it's 25 percent for 3 and 4 units 

Actually quite a few banks in the Twin Cities area offer business loans at 20% down. I would check with a number of the smaller ones in town and you should have success.

@Jason Gines for 1 unit you can get investment property with 15% down payment. Scenario  is for duplex so as a lender we offer only with 25% down payment for investment. Off course other lenders could be offering for 20% down payment  for duplex but not us. 

US Bank, sunrise banks, drake bank, firefly credit union, First American bank, bridgewater, highland banks and I am sure a ton more