Less than 25% down for a duplex?

[Mark Philibosian]

I'm looking to buy a duplex in Washington and trying to see if there are ways to put less than 25% down. It's already rented out and looking for unique ideas. Thanks!!!

[Chris Mason]

Originally posted by @Mark Philibosian:

I'm looking to buy a duplex in Washington and trying to see if there are ways to put less than 25% down. It's already rented out and looking for unique ideas. Thanks!!!

 Call an independent mortgage broker.

"Hey Mrs. Mortgage Broker, I want to buy a duplex investment property with less than 25% down. Here is the fully ratified purchase contract, I got to this point without being preapproved because I understand the term holds no value with these wonky loan programs anyways. Because this will not be a Fannie or Freddie loan where the best rates are to be found, I do not expect a great rate or no points, and I understand that it's illegal for you to get paid more if I get a higher rate so you have no incentive NOT to find the best rate/terms/points you can. Open your spam folder or 'junk lender' folder, or whatever you call it, and let me know what you find in it. Thanks, Mark."

That being said if it will be owner occupied, there's a plethora of <25% down programs out there... I kind of assume you already know about all those A+ paper programs, but will not be moving into this property.