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Updated over 4 years ago, 04/30/2020

User Stats

3
Posts
0
Votes
Pablo Yepez
0
Votes |
3
Posts

Mortgages for Investment Property in Chicago

Pablo Yepez
Posted

Can an actual mortgage broker give me an indication of min down payment, i rate and any other requirement for mortgages options for investment property in Chicago, IL?

User Stats

196
Posts
130
Votes
Eric X.
  • Real Estate Agent
  • Naperville, IL
130
Votes |
196
Posts
Eric X.
  • Real Estate Agent
  • Naperville, IL
Replied

for best rate 780+ credit and 25% down.  without knowing your profile and numbers, no one can give you any accurate numbers.

User Stats

812
Posts
758
Votes
Zack Karp
Pro Member
  • Lender
  • Schaumburg, IL
758
Votes |
812
Posts
Zack Karp
Pro Member
  • Lender
  • Schaumburg, IL
Replied

@Pablo Yepez for an investment property that you are not going to live in, for Conventional financing you need 15% down for a 1-unit property and 25% down for a 2-4 unit property.  No one with any credibility is going to quote you a rate without running your credit, and especially not here on BP.

  • Zack Karp
  • 847-387-5513
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    User Stats

    3
    Posts
    0
    Votes
    Pablo Yepez
    0
    Votes |
    3
    Posts
    Pablo Yepez
    Replied

    thank you guys