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Updated about 7 years ago on . Most recent reply

User Stats

90
Posts
18
Votes
Richard Bull
  • Santa Clarita, CA
18
Votes |
90
Posts

How to get an investment loan w/ 10% down (rentals in IN & MS)?

Richard Bull
  • Santa Clarita, CA
Posted

I am trying to stretch my buying power by ideally using conventional loans for rental properties with 10% down (if this exists). Thus looking for a situation where I can move away from PMI once there is more than 20% equity in the home. From all the loan brokers and banks that I have spoken to, I have only been able to purchase my previous properties with 20% down -- a requirement for investment properties. I primarily invest in Indiana and Mississippi.

Wondering if there are any alternatives or any area where I am not looking and should be. 

Separately, if there any small banks and loan officers from that anyone can refer to me in these two markets, I would very much appreciate it. 

Thank you!

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