Seeking Financing for Low Down Payment.

[Eugene Chin]

I am starting out and would like to purchase a property with as little down as possible. Currently looking at residential properties up to 4 units. Outside of VA loans (of which I am not a veteran) and first-time home buyer FHA loans, are there any other loan products or banks that people here have used recently where an investor can plunk down as little as 10% on a property without it being owner occupied? Would anyone be willing to share what types of favorable terms you have gotten in recent weeks and who you used? Many thanks.

[Dennis Muno]

Hello Eugene,

So for investor loans for up to 4 unit properties most lenders require a 20% down. It usually is very hard to find do a deal without a 20% down minimum. Very very very rarely will there be anything under 20% down for an investment deal although I have seen a 15% down DSCR deal being marketed by another lender but I'm sure rates will be higher because of the perceived risk.

Also rates and terms usually depend on factors like your FICO, percentage downpayment, zipcode(high density or low density), if you pay more to buy down rate, etc so everyone's rate will be different depending on these factors