Credit Union, Smaller Banks - lower cash to close?

[Eric Brauer]

Hello BP community,

I purchased my primary residence in 2022, which I'm house hacking.  I'm looking to purchase additional 'buy and hold' investment properties this year.  Does anyone have experience with using a credit union or smaller community bank to obtain a conventional loan that allows you to put a lower % down payment (less than 20-25%)?  If so, I'd appreciate not any references (I'm in the DC area).  Beyond that, how did you seek out these institutions or make inquiries about what their lending disposition might be?

Thanks very much.

Eric

[Eric Brauer]

Thanks Russell and Jack.  Good to know.  15% isn't bad, but a higher interest rate would definitely put pressure on cash flow.  Candidly, 20% to close on an investment property wouldn't be the end of the world.