Looking for lenders who can offer low down payment
I am looking for lenders who offer better than a 15% to 20% down payment for a conventional mortgage on two investment properties in the Atlanta area. Right now I am dealing with two preferred lenders and they offer $4k towards closing costs but I need to put down at least 20%. I don’t close on the properties until next month so I can still look for better deals. by budinger420 from Atlanta, Georgia. Feb 15th 2022
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
Yep. Rental property loans require a minimum 20% down payment. Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified Mortgage Advisor and Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.Licensed in AZ, CA, GA, IL, MO, OR & WA... In fact, NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000 - OR - 480-695-9300.
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
I am not aware of any investment property loans offering less than the standard 20% down payment. You may find someone somewhere, but that is going to be an exception, not something common. Next, not lender is giving you $4,000 towards closing costs for free. They just increase the interest rate a little so they make that up over time to 'give' it to you today. I lend in MN WI IA ND SD. Find me at JoeMetzler.com - Cambria Mortgage, NMLS 274132
Ask our community a question.
Get an answer
Related Questions
