Lower Down Payment Investor Mortgages

[Jahan Habib]

I am in the process of closing the first deal using conventional financing. In the meantime, I have been looking at other properties for deal #2. I have identified a few good possibilities, however cash will be tight as I plan on making improvements in Deal #1. I know that there have been a number of threads on 0% money down mortgages for investment properties, which is not possible at all at this time. Therefore, I wanted to see if there are 10-15% down mortgage products out there for investors?

Besides searching on BP, I have asked a few portfolio lenders in MA, who are requesting more investing experience before they will discuss possibilities. So I was hoping to see if there is anyone who has had any luck/experience with lenders in Southern New England (CT/MA/RI)? I’d like any pointers on a lower down payment mortgage product, as I’d like to set aside some cash for vacancies, repairs, and 6 months of cash reserves.

Any advice would be most appreciated.

[Neil Aggarwal]

Originally posted by @Jahan Habib:

find a lender who understands my perspective

The lender does not have to look at it from your perspective. You have to look at it from the lender's perspective. They will have plenty of business at lower LTV so why should they take a higher risk with you?