Lenders with non-occupant requirements and low down payment
I've been in the market for a few months and was wondering if there were any lenders in the DMV area that offered non-occupant loans with low down payments (5-10%). I'm currently a veteran but would like to use my VA loan for multi-family properties with 3-4units because they are generally priced higher (400k and up) I would use the non-occupant loan for houses with basement apartments(1b,1ba), usually priced at 250k and lower.
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You are going to be hard pressed to find any lender who will give you an investment loan for under 20% down.
Have you considered house-hacking a 1-4 unit with your VA? If you buy a 4-plex with your VA (for example), live in 1 unit, and rent out the other 3. That would be totally doable.
Plus, if the other units are already rented, the lender will be able to use up to 75% of the rental income to help you qualify for the purchase.
Hope that helps.