All Forum Posts by: Kevin Lanphear

@Bryce Bunton Whoah you’re lucky af

@Patrick Bavaro yeah I see what you’re saying but the 2 lenders I have been using told me I wouldn’t pass underwriting on them for a second home. I know that there’s gotta be some lenders out there that can offer 15% down with a conventional loan for investment properties.

@Patrick Bavaro yeah unfortunately the properties won't qualify under a STR. Not near any bodies of water or mountains or theme parks. Underwriting won't approve my locations as a second home aka STR.

That’s why I need some references to a lender that can offer 15% down for each of my new builds.

@Patrick Bavaro thanks. Yeah I’m fully aware of the 10% with a ‘second home’ aka vacation home. But these homes I want will be investment properties and won’t be considered as second homes, or else I would do that every time lol

@Matt Devincenzo thanks. Yeah I need to know what mortgage companies would offer 15% or better…

I am currently trying to find lenders that offer better than a 15 to 20% down payment for a conventional loan on two investment properties new build SFH in North Atlanta area.

So far I have been using the preferred lenders since they offer $2k from the lender and $2k from the builder towards closing costs, but it’s a 20% down payment.

I don’t close on these properties until June or July 2022 so please let me know if you know of any lenders that I could possibly use.

Thank you so much!!!

hey! to be honest, most of the local GA banks suck! Synovus or Axos Bank have been the best as far as interest rates go for investment properties. All lenders I have talked to require 20%+ down payments for rental properties.

I have NEVER come across any lender for a 15% down payment on rental properties.

If you do, PLEASE REACH ME ASAP :) hope this helps - I have 3 rentals so far in the north GA ATL area.

@Johnny Potts it depends.... I am in my beginning stages building my real estate wealth so the goal for me is make as much cash and quickly as possibly so that I can buy more doors..... then once I hit a nice goal of cashflow per month where I am satisfied, then you can start paying down mortgages..... Thats why i HATE retirement accounts, I can make millions way quicker doing this method than waiting 30 years..... hope that helps....

@John Foresman thanks yeah - storing in Blockfi, the stable coins offer 8.6% APY

thanks @Damaso Bautista and @Jason Shackleton . lol yeah exactly guys, too much to decide on..... i mean there is a chance ETH and BTC flies to the moon ;) !