Today I checked rates on their site, and there were none even with great credit and a 25% downpayment.According to my loan officer, Redfins investors are not purchasing investment or second home mortgages right now, and expect them to come back in about a month.FYI that it looks like lending for conventional investment property mortgages is drying up.

Private capital that does loans based on the asset is great, but yeah, the cost of the money is higher than conventional banks. 

I don't have the means to fund an all cash deal, so I got pre-approved for a conventional loan with 10% down at a fixed interest rate of 3.75%.

Does anyone know a conventional investment lender who will not pull the rug under you at closing, but at the same time offers the lowerst rate? 

Conventional 30.

Conventional 30.

@Michael Ohara so do we get a HML for cost of property AND refinance or conventional for cost of home and HML for rehab??

I am very new to any form of USDA financing, but I am not sure how to make it work for me here.Using a more conventional commercial mortgage or construction loan may work, but the current owners live in the property and have only rented the place out while they were out of town, thus it has netted much less than it is is capable of and P&L is lite. 

Click submit to view the results.Deal Details- 5 bedrooms. 3.5 bathrooms- 3031 sqft- Purchase: $325,000- Interest rate: 3%- Down payment: 5%- Conventional loan + owner occupied- Monthly mortgage: $2098.31- Cash to close: $18,289.56What's next?

@Darlington Agu Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).