Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Mortgage Brokers & Lenders
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

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
  • CV3 Financial logo
    CV3 Financial
    |
    Sponsored
    Fix & Flip | DSCR | Construction Loans Up to 90% LTV - Up to 80% Cash Out - No Income Verification - No Seasoning Requirements

    User Stats

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

    thank you guys