All Forum Posts by: Steph C.

Ok, thanks, Bryan! I appreciate the help.

Thanks, Kevin, I'll send you a PM or email.

Steph

Some loan programs I've encountered have required at least 35% down, even with good credit.

I wouldn't mind purchasing at a higher interest rate and lower downpayment if I'm able to refinance later.

Bryan, can you provide details on the 90%/10% loan program, at a 3 year term? Or, send me a PM?

Thanks,
Steph

Thanks for the replies, everyone. I haven't had much luck yet.

If there are anyone can recommend a lender that can finance a fully rented, de-leaded cash cow in MA, let me know. A lot of local lenders I've been talking to are looking for really high downpayments. Thanks!

Steph

Hi!

Just curious if you guys had any experience with getting a loan through a conventional lender (or portfolio lender) for a multi-family. Would a lender consider the seller holding the note as your required 20% down?

If you have to have "skin in the game" would a lender accept this?

Thanks,
Steph

Thanks, Greg. I appreciate the info, very helpful.

I also heard in addition to the SSN, you need each tenant's driver's license number for the bank (I'm sure due to Patriot Act). Is that correct?

Thanks, Steve. I'll ask around for this type of bank account. Great tip!

Steph

Thanks again, Bob.

I read the mass.gov website the same way - a separate bank account for each security deposit. Hmmm...confusing. :roll:

Thanks, BG!

I can give them a try. How much down do they require?

The properties are in Bristol County, MA (Mansfield/Attleboro/Seekonk) areas.

Thanks,
Steph

Any luck with an investor friendly title company in MA? I am close to Franklin, any leads?

I got in touch with a possible company near Boston, but would prefer one closer to home.

Thanks,
Steph