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Updated over 5 years ago on . Most recent reply

User Stats

18
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6
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Benjamin Lemieux
  • Investor
  • Southington, CT
6
Votes |
18
Posts

Different types of lending available

Benjamin Lemieux
  • Investor
  • Southington, CT
Posted

Good evening BiggerPockets,

I am a newer Connecticut investor with one 3 family property. I am looking to buy my 2nd home in the next 6 months or so and was curious to different types of lending that I may not know about. Is there anything other than

FHA, 20% conventional loans, portfolio lenders, or seller financing? I am considering looking a hard money lender possibly as well. I've heard there are conventional loans that require less of a percentage but I don't know anything about them. I am doing more research but figured I might come across some answers here as well. It's not I can't but how can I right?!

Thank you for any and all help!

-Ben Lemieux

Most Popular Reply

User Stats

390
Posts
224
Votes
Mat O'Grady
  • Investor
  • North Stonington, CT
224
Votes |
390
Posts
Mat O'Grady
  • Investor
  • North Stonington, CT
Replied

@Benjamin Lemieux Good morning, In my experience with conventional lending in CT, I have had to put 25% down to get a loan from the bank. I have spoken to some hard money lenders in the area, but the charge 12% and 2 points. I would rather save up money then do that. 

Let me know if you find any good low down options!

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