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Updated over 2 years ago on . Most recent reply

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283
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Joseph Stern
  • Investor
  • Tampa, FL
152
Votes |
283
Posts

Seeking advice on financing a rental

Joseph Stern
  • Investor
  • Tampa, FL
Posted

I want to get a loan similar to a 203k or FannieMae Homestyle loan where the purchase price and rehab are rolled into one long term loan and you just put a down payment on the single amount. A lender that will care more about the cash flow of the property and my credit score, not my DTI. This will be for a single family rental property with an ADU. Anybody know of or offer loans that may fit this criteria? I want to put 15-20% on the property.

Most Popular Reply

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Dave Skow
  • Lender
  • Seattle, WA
897
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2,616
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Dave Skow
  • Lender
  • Seattle, WA
Replied

@Joseph Stern- as you likely already know - these  " rehab" type loans  are  normally  for  " owner occupied "/ Primary  residence  purchase  transactions .......you can  get get a rental loan  with  15% down  so  maybe  with the  additonal 5%  you would have  available - you can get  started  on some projects ?

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