Posted by zach on December 13, 2007 at 18:00:51:
I would say that broker is right on, 90% max financing out there right now for investment properties.
What Financing requirements are you finding? - Posted by Wade
Posted by Wade on December 13, 2007 at 14:44:56:
I am located out West and have had a mortgage lender tell me that in order to purchase an investment property right now, I will need 10% down, good credit (obvious) and that the interest rate would be between 7% and 8.5%.
What are you all finding in your areas? I was hoping to get in with 5% down with a rate of 7%. Possible?
Re: What Financing requirements are you finding? - Posted by Matt (Boise)
Posted by Matt (Boise) on December 30, 2007 at 19:40:50:
In the Boise area I’m finding 90% LTV to be the max, with 75% for “commercial” loans. At 20% down I can get a rate of about 7%.
Anyone know the latest requirements for commercial loans and down payment – does the down payment have to be mine? For example, if I partner with someone else or have the seller stay in the deal can this act as my down payment?
Thanks,
Matt
Re: What Financing requirements are you finding? - Posted by Jimmy
Posted by Jimmy on December 14, 2007 at 07:36:06:
90% LTV is going to be the best rate. He should be able to get you into the high 6’s or low 7’s with good credit and everything else making sense.