Tradition Bank financed loan

[Randy Wilson]

Im starting to put the prices together on a 4 family house I'd like to purchase and a big question came up. I emailed with a loan officer I used to buy my first house and was told that if I'm buying investment property I have to have 25% down to secure a loan. I though 25% was the high end and have been estimating that it would be closer to 15% that I need to come up with for tradition 30 year financing. This doesn't break the deal for me, I'm just curious to know if that is standard, or is this just his recommendation. What do you folks think?

[Mat O'Grady]

@Randy Wilson I have been told by a few lending institutions that 25% down is standard in CT for investment properties. I went with a mortgage broker on my first investment purchase and they told me I had to put 25% down and I was skeptical and called a few other banks and they concurred. You may be able to find a bank that will take a portfolio loan and keep it in house for less than 25%. If you do, let me know!