Posted on: 16th Feb, 2011 05:50 pm
Is it possible to buy an investment property with less than 20% down. Seller's consession? How does this work.
I am interested in a 4fam. price is about 220k. Excellent buy. I only have about 30k. Any ideas?
I am interested in a 4fam. price is about 220k. Excellent buy. I only have about 30k. Any ideas?
You will have a difficult time - Govt loans do not allow investment nor do Mortgage insurance companies so you will not be able to go conventional. . Many banks will want more than 20% down -
But that is the minimum these days.
But that is the minimum these days.
You would need to find a Portfolio lender. Fannie and Freddie guidelines don't allow for anything less than 25% on investment properties.
