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Updated about 1 month ago on . Most recent reply
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First investment property for less than 10% down
Looking to buy a single family home and use as a STR on Airbnb. Are there any loans out there that require less than 10% down?
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Hey @Sundone Boutvyseth,
Mountain America actually has a private loan program for Utah investment properties that is only 10% down. I've now used it twice.
The program requires 10% down, must be a rental, no PMI, and has a very high standard of credit.
Last I did it (Summer 2022), my rate landed in the low 5%. I believe they're almost 8% with that program currently but if it provides an entry point, you should consider it! Contact me if you'd like a lender recommendation.
On top of the MACU loan, you can buy a STR as a second residence which only requires 10% down as well. I personally haven't done this but I have helped clients do it in the past.
Hit me up if you're interested!