Another credit union here (I believe they lend in Colorado too) has a no income limit 0% down program.

I would think most landlords, who choose to be landlords in very Tenant friendly San Francisco, would pony up the 5.2% knowing that the rate has gone up and down throughout time, unless they want to run the risk of their tenant's finding out and called out as being a bad landlord, being taken on by the very helpful San Francisco Tenants Union or taken to Small Claims Court.Maybe there is a silver lining in California's recent change in security deposits that limit it to one months rent when it used to be up to 2 month's rent for unfurnished units and up to 3x for furnished units.By the way, I took a look at your Company, https://www.getwhale.co/  Since your firm is only offering 4.2%, were you trying to market in San Fran before discovering the Rent Board rate?

I'm a Radiographer In military manufacturing and put together a budget so within a couple of years I want to take the jump into owning a property and renting it out.

Check the local credit unions or small regional banks. 

I have spoken to several local banks and credit unions and none have any properties where they are in default.

I would connect with a few lenders on here, find one local mortgage broker, and then call around to several regional banks and credit unions.

So, not only was George Washington our greatest military leader and greatest President, he was also our greatest REAL ESTATE INVESTOR.! 

Try local banks and Credit Unions, they'll offer the best terms for you. 

@Kent KettellWe have been using loan to cost funding our deals the past three years, with community and credit unions, and the refinancing once stable to agency.we are able to get 80% of the rehab built into the loan, and it has allowed us to come up with less.

I hear the same story about how the general economy, my length of time owning the business, etc are reasons credit unions (same ones who were on board before I bought the brewery) are now not willing to finance.