Local lenders who do 5% down occupied loans on small multis?

Question

Hey Cleveland folks!

Looking for my second 2-4 family multi in Cleveland currently - looking to owner occupy it for a year or so before looking for a third. On our first duplex, we put 20% down (which was fine at the time), but I'd like to put significantly less down this time around to help us keep some reserves and cash for future deals. Does anyone have any recommendations for local lenders who will do anything in the ballpark of 5-10% down on 30 year fixed small multis without going FHA? Also happy to hear recommendations for regional or national lenders as well!

Brian Boodoosingh · Answer

Thanks @Nicholas Misch I'll give Noah a try as well!

Nicholas Salman · Answer

Hey, Brian, great question!  We do offer 5% down.  Let's connect and I can take a better look at everything for you!

David Rogers · Answer

First Federal Lakewood is really good. Try Eric Veronica -- 419-318-8985.

Don Petrasek · Answer

@Brian Boodoosingh  curious if you found a lender willing to do less than 15% down on an owner occupied 2-4 unit (not FHA)....I spent 2-3 days last year looking for one of my buyers and came up with nothing.

James Wise · Answer

Shouldn't need to worry about whether or not the lender is local. Any regional lender should be able to handle this for you.

Nicholas Misch · Answer

Try Noah Rosen with Cross Country. 440-781-3812 We were just recently talking about 10% and lower down investment loans.

Brian Boodoosingh · Answer

Will do @Ricardo Navarro- thank you!

Ricardo Navarro · Answer

Reach out to Becky Thompson at Cleveland mortgage. And tell her I sent you.