Minimum down payment question

[Ryan Fischer]

Hello everyone. 

My current rental properties were both financed with hard money, before paying them off low enough to get a HELOC and simply put the balance on there.

I'm now interested in purchasing an additional rental property (4-plex) through a traditional lender, as the 10% interest rate is crushing. 

With that background, my question is simple - What is the minimum down payment most lenders require to purchase a 4-plex? (725 credit score, good income).

[Ryan Fischer]

Originally posted by @Steve Vaughan:

For investment property I have seen 25%  being common with a good credit & income profile as @Sohrab Khosravi states.  You won't be occupying it @Ryan Fischer?

Please speak to how the HML process was for you. I've never done one. You say you did pay them off with the HELOC? 10% interest in that world sounds like a great rate. Thanks!

 Hey Steve! 

No I won't be occupying it. This would be my 3rd rental property (if purchased).

The first rental property, I financed with a hard money lender. I paid it down to $20K (from 80), and then took out a HELOC on the home for $20K and used that to pay off the hard money lender.