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Updated about 4 years ago on . Most recent reply

User Stats

51
Posts
18
Votes
Jordan Gerkin
  • Investor
  • Midwest
18
Votes |
51
Posts

Single Family Rental

Jordan Gerkin
  • Investor
  • Midwest
Posted

Hi, looking to invest into a single family home to rent out. Is it common for a bank to say that they need 35% down and the longest loan length they have is 20 year variable interest rate? From what I understand, that seems to be more on the commercial side of things. They were telling me that since it’s going to be for a rental and used as a business, that’s the type of financing available. This happens to be the main bank I use and I do have a commercial loan through them, and they are local, so I was hoping they would be more easy to work with. Should I go and check other banks?

  • Jordan Gerkin
  • Most Popular Reply

    User Stats

    1,886
    Posts
    3,664
    Votes
    Zach Lemaster
    #2 Ask About A Real Estate Company Contributor
    • Rental Property Investor
    • Denver, CO
    3,664
    Votes |
    1,886
    Posts
    Zach Lemaster
    #2 Ask About A Real Estate Company Contributor
    • Rental Property Investor
    • Denver, CO
    Replied

    @David Robinson

    Thank you for the mention!

    @Jordan Gerkin

    I received your message.  We look forward to connecting with you.

    We've helped many investors just like yourself build a successful rental portfolio across numerous cash flow markets. It's all a numbers game, and the most successful investors invest in the markets where they get the best returns!

    https://www.biggerpockets.com/users/ZacharyCole/references

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    Rent To Retirement
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    273 Reviews

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