Dallas-Fort Worth Real Estate Investor Club

10% Down on Investment Property Without Occupying

  • 16 Aug 2015 11:07 PM
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    Message # 3482686
    Cory Gibson

    I have found a great opportunity in Arlington and was wondering if it is possible to purchase an investment duplex with only 10% down payment? I would not live in the property and I know that 20% is usually required in that in situation. I have excellent credit so that would not be an issue.

    Recommendation on lenders that accommodate 10% down  would also be appreciated.

    Thanks
  • 18 Aug 2015 10:35 AM
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    Reply # 3486104 on 3482686
    Deleted user

    Hi Cory,


    I happened to run across this post and wanted to answer for you.  A lot of times, on a single family residence, we can get by w 15% down, unfortunately on a duplex and above, it is actually 25% down on these tramsactions.


    Fannie Mae is backed by our money, so they are the most agressive when it comes to programs and rates available to you.  I have some outside the box lenders, for people who can't prove income, bad credit, etc, but that is usually 35% down on investment properties only, NO ARV taken into consideration.  So, for you, Fannie Mae would be the best route to go, just needs the 25% down on the duplex or 15% down on a SFR.  

    Brian Morrison

    HomeBridge Financial Services, Loan Officer, NMLS #270396

    214.893.8953 cell 
  • 19 Aug 2015 6:08 AM
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    Reply # 3487524 on 3482686
    Herman S

    Hey do you need help with the funding. Give mike a call and tell him Herman sent you and see what he can do for you 972-522-8424 
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