Cincinnati REI Financing

[Pete Triantafilou]

Hey All, Has anyone found a lender/bank in Cincinnati that has lower Mortage rates (3-5%) and will allow you to put less than 20% down on investment properties? I have searched high and low with no luck. I have a great career currently with a stable paycheck and healthy W2. Not sure if this would help or not when searching for someone to lend with less than 20% down. Let me know your thoughts/insights. Thanks! Pete

[Tim G.]

Is the loan for flips or rentals?

If for flips, Union Savings is 2.99% APR 1-yr ARM, 20% down payment. This is the best deal you'll probably find in Cincy. Another option is Spring Valley Bank. They are 15% down payment but 8.99% APR interest only loan.

I don't know of any lenders that have low down payment on investment properties unless you plan to live in it.