boston, MA · Member since 2019 · 45 posts · 6 votes
Anyone any nashville lenders allowing 10% down on investment properties? Or anywhere below 20%? Wife and I have above 800 credit scores but dont want to go for the full 20%.
Real Estate Agent · Nashville, TN · Member since 2018 · 123 posts · 74 votes
5y
Hey Thomas. I have a local lender that I routinely send my investor clients too. They have been able to secure a 10% down loan for them in lots of cases. Of course, your specific situation dictates that but they are a great option to start with. I'll DM you the info.
Lender · Chicago, IL · Member since 2016 · 653 posts · 313 votes
5y
Try any local bank that has a 10/1 arm portfolio capital program. They are lending their own money on deals like that and don't have to sell to fannie/freddie. If you can get 30yr fixed at 85+LTV going conv. agency, then go for it. Shouldn't be that hard to call some local places.
I haven't found a local lender that will do it. I had a hard time finding a bank that would even allow a seller to carry back a 2nd position lien at 10%!
I would try Reliant bank. Previously community bank and trust in Ashland city had the best lending on RE in my opinion, but Reliant bought them so I don't know what their lending looks like now. Alex Dowdy.
In addiiton, try Bank Corp south. Christian Dickson.