Lending and 20% down...what are our options?

[Courtney James]

Hi friends! 

I invest in the Stark County, OH and I am partnering with an out of state investor who wants to purchase his first property here. He plans to go the traditional financing route but wants to put less than the 20% down. What are our options to be able to put a lower % down?

Thanks in advance.

[Neil Henderson]

Owner occupied (3.5% down), second home loan (10% down), partner with another investor to reach a combined 20-25%, talk to small community banks. 

Not a lot of options. Banks want investors to have skin in the game to lower their risk, especially given the state of the economy.