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Updated over 3 years ago,
Mortgage on multiple rental properties
Any input from experts appreciated
We are looking at buying few townhomes as rental properties, they will be brand new construction after we agree to terms and put goodwill deposit. The builder is selling them at discount from asking appraised price. My questions are
1) Would a lender/bank be willing to offer mortgage for less than usual <25% down payment since there will be equity in properties to begin with when they will be ready
2) How low of down payment would they accept to offer the loan for if the property is appraised for 400k by the builder but they have agreed to sell it for 340k.
3) If a LLC partnership structure is buying these properties (10 of them), and if there are multiple partners ( all accredited investors) what would be the best way to approach lender/bank for loan.
Thanks for your response in advance.