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Updated over 18 years ago on . Most recent reply
Need a good 80/20 lender in CT for investment property
I've decided if I buy a 3-4 family that I really don't want to live in it. Mostly I don't want to find one my girlfriend will be happy living in, getting something nice enough to make the both of us happy means we'll limit ourselves quite a bit in where we can buy a house. Also, we have large fish tanks.....I don't want to move them until we are ready to buy a house that we'll be in for a good while. I'd rather just buy a house that will be an investment (purely to generate income) and stay living where I am until I can purchase a home for myself. Can anyone recommend a 80/20 lender that will finanace me if I am not planning to live in the house being bought? Obviously I'd be buying something that generates enough cash to cover expenses plus a profit and money to cover any problems along the way. Would rather use a conventional lender, too nervous about lease and subject to options. If you are a lender, know a good lender or have some money you want to let me borrow send me a PM. Need a lender licensed in CT that can finance $150-300k.
In case you were wondering....
Credit rating currently around 675, should be at 700 soon. (g/f co-signing, her is about the same)
Combined income of $65,000+/yr