Both banks and credit unions are good starting points, as they can offer different types of financing solutions that might suit your down payment goal of 15-20%, but the chances of getting 15-20% are limited as 25% is more likely to open more doors for you. 

Most lenders will offer two options:1: 20% down and 20 yr amortization and 10 yr term.2. 25% down and 25 yr amortization and 10 year term.Rates will vary by region, lender, and relationship with your lender.  

While house hacking can offer immediate benefits in terms of offsetting housing costs, it's crucial to also think about long-term goals and how this investment fits into your overall wealth-building and real estate portfolio growth strategies.Good luck!

The lenders that offer DSCR to first time home buyers will be a bit more expensive and require a higher down payment approximately 40%-30% down payment.

Additionally, crowdfunding offers diversification benefits, allowing investors to spread their risk across multiple properties or projects.

Most lenders will do a hard credit pull before presenting a formalized term sheet, but that is after a property is under contract and your offer is accepted/you submit a full application and send in a credit authorization. 20% down with no STR experience is pretty normal on the market, but you will likely be using a haircut AirDNA projection instead of the full 100% to qualify you. 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

So, back to making an offer...

Would love to connect with someone that could offer some guidance.

Hey @J Scott hope all is well, I just came by this thread and just bought your book on amazon and saw that bigger pockets actually offers estimation templates, sample contractor agreements and 8 other documents..