First Investment Property Financing Question

[Arthur Tubman]

So my wife and I (just married 3 months ago) are venturing into RE Investing and buying our first Rental Property. We think we found a winner, but we overlooked some things when doing our numbers. The first being putting down 25% instead of 20% for investment properties. The second is a lot of the places we requested Quotes from have been telling us there are no fixed rate programs for investment properties, or if they do have them they are far greater then current interest rates.

Does anyone have a contact or someone they can recommend in the Upstate New York (Binghamton Area) for Funding and/or insight on these matters above?

[Britt Abbey]

Get a different bank.  I live and work upstate (Watertown area), and there are banks/credit unions that offer 15 and 30 year fixed rate mortgages at similar or slightly higher than conventional rates for non-owner occupied 1-4 family investment properties.  25% down is the norm in my area.

I can't recommend any in your area, but I'm sure they exist.