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Updated 8 months ago on . Most recent reply

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13
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10% down payment investor loans

Piper Pepperidge
Posted

Looking for 60-100k properties in FL and OH, have been able to find some lenders / brokers that will do the loan but even less who will do it and loan to LLC but finding through the quotes I receive that the add'l costs to close add 7k on top which I acknowledge are mostly fixed costs, so trying to see if there are lenders that will do lower down to make my all in costs lower, even if this might make interest rates higher. I know there's lenders like kiavi that will do 10% but this is also my first time buying a home so similar lenders will not fund. Some suggest a line of credit for home prices so low, but the APR makes this unsustainable if I'm paying off the loan in 10+ years, same with hard money lenders. Ive even looked into seller financing but find the terms are often more unfavorable than a mortgage. I understand this is a unique situation so if infeasible I'll just have to accept the 20% down, but also open to hearing any other solutions, advice etc…

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