Lenders doing <20% down on NOO Multi-Families

[John C.]

I'm looking at a few high-quality duplexes in highly resilient areas of NJ. What are my financing options? Local banks? portfolio lenders?

I would really like a ~15-20% down with a 30-year amort, would flex on either of those given the right package. I recall some mentions on BP of 10-15% downpayment lenders floating about.

Ultimately, looking for lenders doing sub-20% down on NOO multi-families to form a relationship with for the foreseeable future.

[Matthew Crivelli]

I think 20% is easily obtained with a decent credit score. 15% will be a little more difficult. I've seen scenarios where the appraisal came in much higher than the purchase price and the lender agrees to add an extra 5% of leverage. But going in you would agree to 20%. Private money usually equals higher leverage, the trade off is higher interest rates and closing costs.