15% down single family investment property loans?

Question

I have yet to purchase a single-family home as an investment property. I remember hearing a while ago that there were loans available at 85% LTV. Does that still exist today?

Curtis Noteboom · Answer

I just closed a few weeks ago on my first rental. Single family home. I put 15% down. Rate was 4.25.

Alan Lacey · Answer

@Ryan Cleary any lender should be able to offer that. Freddie Mac allows 85% on a add purchase.

https://sf.freddiemac.com/general/maximum-ltv-tltv-htltv-ratio-requirements-for-conforming-and-super-conforming-mortgages

Jay Hurst · Answer

Both Fannie and Freddie allow for 15% down on single family homes, and there are non-conventional options that allow for 15% down without mortgage insurance. and we  do a first lien at 70% or 75% on a first mortgage and a second mortgage for the rest up to 85%. so really any competent lender should have an option or two for you.

Chamika Hull · Answer

@Curtis Noteboom, is it OK to ask what lender you used?

Ernesto Garcia · Answer

Ryan,

Depending on the type of investment. If it's more so a fix and flip- The highest leverage for the most qualified borrower is 90% on an acquisition 100% of rehab.

I would say across the board on a rental 30 yr loan the highest leverage available is 80% on the purchase.

Harjeet Bhatti · Answer

@Ryan Cleary You can purchase 1 unit with 15% down payment but has to pay PMI.

James Tasso · Answer

Better to come in with the extra 5% to not deal with the PMI

David Garner · Answer

At the moment, yes... 15% down with PMI.

Raymond J. Rodrigues · Answer

Conventional loan still offer 15% down payment on 1 unit for investment properties.

I’ve seen portfolio loans that finance up to 4 Unit with 15% down payment that allow vesting in an LLC.

Jay Hurst · Answer

@Philip Jackson  Yes, my answer above was about investment properties. Single family properties I should point out, but for investment properties.

15% down single family investment property loans?

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