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Updated over 2 years ago on . Most recent reply

Chris Gundersen's profile image
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Chris Gundersen
  • Rental Property Investor
  • from North Aurora, IL
  • Member since Jun 14, 2019
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Chris Gundersen's profile image
Chris Gundersen's profile image
Chris Gundersen
  • Rental Property Investor
  • from North Aurora, IL
  • Member since Jun 14, 2019
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Chris Gundersen
  • Rental Property Investor
  • North Aurora, IL
8
Votes |
13
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Chicago Real Estate Forum

Less than 20% Down on Small MFR

Chris Gundersen
  • Rental Property Investor
  • North Aurora, IL
Posted

Looking for a local, Chicago area lender that can accommodate less than 20% down on small Multi-family Rentals. Any recommendations would be appreciated!

Chicago, Illinois
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Patrick Drury
  • Real Estate Agent
  • from Columbus, OH & Cleveland OH
  • Member since Feb 11, 2021
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Patrick Drury
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  • from Columbus, OH & Cleveland OH
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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
Replied

@Chris Gundersen
Does it need to be conventional? You should shop the hard money loan products in your area. That's the only way I know of how to get sub 25% down on small multi-family deals (2-4 units). For example, in Columbus, I know a HML that has a product that is 10% down with 2 points and it's a 6-month term.

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