Financing for 450K Duplex (Lake Stevens,Wa)

[Tieba Bropleh]

Seeking 450K to purchase a duplex in Lake Stevens, Wa. (asking price was 475K, this property is worth close to that maybe a little more ~480K)

I was pre-approved by a local Hard Money Lender for their "0 down payment landlord purchasing program". Went under contract ~3 weeks ago with this pre-approval, lender came back from underwriting and said they would approve the deal with 100K down.  I have completed inspection and put up EM and was ready to close. If you could fund this deal or know of anyone that could help please pass along their contact info.

Additional info:

I currently do not have the resources for 20%-25% down (enough to cover closing costs and get property ready for renters)

One unit is vacant and will be rented at market rent

second unit has section 8 tenant on m2m lease will increase rent immediately after close to get closer to market

[Upen Patel]

Hi! @Tieba Bropleh Looks like you got taken for a ride. No way you get a 0% down loan, even from a HML for an investment purchase for the # you stated. There isn't enough equity cushion there.

For a conventional loan you have to put 25% down.

You might want to get the HML to issue you a denial letter, so you can cancel the contract and get your EMD back.