Are there any banks offering 20% for investment property ?

10 Replies

I was wondering if are there any banks that would take 20% down for an investment property? I know the banks want 25% , but I was thinking in lower my down payment to afford a larger unit property, to get a better property and better rentals. Already talked to my broker, but he said it won’t be possible.

Shop around and look into other brokers.  You may have some luck with local Credit Unions in your area.   I see you are from Mass, depending on your employer, you may be eligible  to take a loan out through an organization similar to DCU.org (digital credit union) they have branches all over MA/NH area.   Best of luck to you. 

@Alex Silva it all depends on if your buying a multi-family or single family property. I’ve got clients that have only needed 10-20% for single family but if it’s multi-family your after I haven’t been able to find one that wanted less than 25%. Good luck!

@Alex Silva Just for clarity Lima One Capital has a 10% down product for your 3-4 unit (multi family) deal, or a 20% down product for your 9 unit (multi family) deal. The 10% down product can be used for SFR or small multi family up to 4 units. Hopefully this helps

@Alex Silva   I'd also talk with Rockland Trust.  They're a great local bank and I've been a customer there since 1985.  They seem pretty committed to supporting the community and it might be a good candidate for a portfolio loan.