Any 80/20 LTV lenders out there???

[Lucas Clyde]

My wife and I live in southern Alaska and are thinking of purchasing another set of fourplexes. Both of them are owned and operated by 1 guy and they're sitting back to back. Numbers on these appear to be excellent but we're a few bucks shy of that 25% number most lenders are looking for. I've heard of 80/20 unicorns, but have yet to come in contact with one. We own another single family home that we are contemplating selling to recoup the equity required for the 25% down if all else fails, however, we'd love to keep it if we can find another lending opportunity. Wife and I's gross income is well over 200k and we both have 750+ credit scores. 1 thing we've run into in the past is that we don't have a long enough owner history of the rentals (less than 2 years) and some lenders will not accept any amount of income they bring in which has made us looked "overleveraged" to them. Any financial institutions suggested, or guidance, is helpful and appreciated!

Thanks BP

Lucas

[Dominic M.]

Originally posted by @Lucas Clyde:

My wife and I live in southern Alaska and are thinking of purchasing another set of fourplexes. Both of them are owned and operated by 1 guy and they're sitting back to back. Numbers on these appear to be excellent but we're a few bucks shy of that 25% number most lenders are looking for. I've heard of 80/20 unicorns, but have yet to come in contact with one. We own another single family home that we are contemplating selling to recoup the equity required for the 25% down if all else fails, however, we'd love to keep it if we can find another lending opportunity. Wife and I's gross income is well over 200k and we both have 750+ credit scores. 1 thing we've run into in the past is that we don't have a long enough owner history of the rentals (less than 2 years) and some lenders will not accept any amount of income they bring in which has made us looked "overleveraged" to them. Any financial institutions suggested, or guidance, is helpful and appreciated!

Thanks BP

Lucas

What I have done in the past is make a list of all the local credit unions in your area and call all of them, that could be 30+ calls and would take all of one morning/afternoon. Ask if they offer portfolio loans at 80% LTV and I am very confident you will find more than one option. Since these loans aren't sold on the secondary market they have greater flexibility.