Does an investor need to put 20-25% down?

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Jay HurstBusiness Member
Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
4y
Quote from @Chris Stewart:

Are there lenders that will allow me to put less than 25% down on a sfh as an investor?  If so, which?


You can put down 15% on a single family home using a conventional loan. We do it all the time for borrowers.  This allows you save capital for the next deal. 

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  • Shannon H.Pro Member
    Investor · WA · Member since 2014 · 11 posts · 3 votes
    4y
    Quote from @Ryan Deasy:

    @Chris Stewart

    have you looked into hard money. most will let you get into the deal with less than that. ive done that many times. happy to share my contact.


     Hi Chris,  oh PLEASE share with me your contact. Do they lend in WA? 

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  • Chris Stewart
    OP
    Member since 2022 · 8 posts · 4 votes
    4y

    Just to confirm, I will NOT be using this as a primary or secondary residence.  Investment only.  Still 15% down ok??

    0Reply
  • Trevor Alexander
    Lender · Corvallis, OR · Member since 2021 · 93 posts · 54 votes
    4y
    Quote from @Chris Stewart:

    Just to confirm, I will NOT be using this as a primary or secondary residence.  Investment only.  Still 15% down ok??


    You can do 15% down on a single family investment, but the LLPA's are going to hit you really hard on the rate and you will have PMI…get a quote from a bank putting 15% down so you have a realistic expectation. Academy mortgage can do 10% with no PMI.


    good luck.

    0Reply
  • Ryan Deasy
    Lender · Farmington, CT · Member since 2015 · 542 posts · 321 votes
    4y
    Quote from @Shannon H.:
    Quote from @Ryan Deasy:

    @Chris Stewart

    have you looked into hard money. most will let you get into the deal with less than that. ive done that many times. happy to share my contact.


     Hi Chris,  oh PLEASE share with me your contact. Do they lend in WA? 

     @Shannon H. i will double check, but yes i believe so. feel free to send me a message!

    0Reply
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