90% LTV? DSCR or full doc?

[Karolina Powell]

A portfolio of six buildings came across my desk today that has good numbers - 15.5K gross rent for ~1.1M with lots of upside to increase rents. PITI would be around 9K. Unfortunately I am only prepared to put 10% down. I have used DSCR loans to get 14 other properties and an additional two under contract so I've always been able to find the 20% but I am stuck at the moment. Seller will not finance and I really would prefer not to have to find partners. Unfortunately I don't have much equity in my home to do a HELOC there.

Does anyone have a possible lending solution? I can do DSCR loans or a full doc loan. I don't mind doing a short term loan and then refinancing as it won't take me more than a year to get the other 10% together. Great credit, great W2 income, I am local so I am well aware of the market here. Thanks for any and all advice!

[Erik Estrada]

You are better off saving the money, as 15-20% down is the norm for investment property financing. There are a few rare cases where you can do 10% down on a long term loan if the seller will carry in 2nd position.