does anyone know of lenders/banks that will let you put less than 20% down on an investment property loan? Any advice would be greatly appreciated.
Yes. I know a lot. Call and talk to your banks and local lenders. For example, my back will lend to be below 20% for an investment property, even as low as 5 - 3.5, but the catch where I invest is what county the property is in and the cost of the property. Let’s say I wanted to invest in a property in my local county, if the property was below 425k the bank has no issue with a 5% down and finance the rest. But if I was investing in the county next to mine the banks have no preference, so long as not less tan 3.5%.
Also, don’t let not having finding discourage you if that’s the case. If you have a deal, or a very sound business plan, money will find you. You can always find financing so long as the lender finds your deal will give a return.
Thanks for the info. No deal yet. Just trying to get everything in order for the first deal when it does come up.
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