Down payment %?

[Mitchell Maginnis]

I am curious as to what fellow investors are putting down as a down-payment on STR's. What is everyone's opinion on this subject? I am attempting to scale my portfolio of STR's and have cash that is burning a hole in my pocket. Thanks!

[Kristen L Garner]

Hi Mitchell - I'm seeing:

15% for single family via conventional loan

20%-25% for multi family via conventional loan

20%-25% for 1-10 units via DSCR loan (with option to submit an exception request for 5% less in exchange for points)

20% for single family via Bank Statement loan 

25% for 1-4 units via Bank Statement loan (with option to submit an exception request for 5% less in exchange for points)

10% for second home via conventional