Looking for a 15% down, no-doc investment mortgage
Hey folks,
Looking for a little help here. So I'm currently in the middle of doing 3 multi-family rehabs in Newark, and naturally my agent brings me a new multi-fam deal that meets all my criteria.
Since I am in the middle of these rehabs, I need to be mindful of cash and therefore am looking for a 15% down, no doc investment mortgage from a local/national lender. The property I am looking to purchase is turnkey and currently cash flowing at about ~$1500/mo. I am self-employed (no W2s, credit score ~780) and have multiple cash flowing properties in Jersey City and Newark already. I am looking to purchase this property to help retire my parents early.
I have called multiple HML and local lenders and everyone is requiring at least 20% down. Would love to see if anyone on BP could steer me in the right direction here -- local credit unions, private money or HMLs. Any recommendations/contact would be a massive help. Thanks in advance!
-Ani