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Updated over 4 years ago on . Most recent reply

User Stats

266
Posts
81
Votes
Brandon Reed
  • Rental Property Investor
  • Clermont, FL
81
Votes |
266
Posts

Loan Options for Owner Financing Down Payment

Brandon Reed
  • Rental Property Investor
  • Clermont, FL
Posted

Hey BP!

I am speaking with a Seller about purchasing 4 Triplexes that he owns.

He is willing to Owner Finance with a note amortized over 30 years at 4.5% and wants 25% down.

My question is, can I get a loan from a bank for the 25% down? Assuming my credit/income/other qualifications all meet what they need...is that even a loan that is offered? If so, what kind of loan am I looking for? What terms are typical on a loan like that?

Any thoughts would be greatly appreciated. Thanks so much!

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