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Are there any lenders in Missouri that allows you to put down 5 or 10 percent on Investment Property?

by Redbird from Saint Louis, Missouri. Nov 9th 2015 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

There are no conforming programs that allow for less than 15% down on investment purchase loans. And if you look at non-conforming (hard money), the down payment will be even higher.. This because investment property loans represent a greater risk, and for that reason, they have higher costs, larger down payment requirements, and higher interest rates than one purchasing a primary residence. Also understand that if you put less than 20% down, then you will have to pay mortgage insurance.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 NMLS# 226347

Nov 9th 2015
Larry Gray (lgray_312_247)
#594 ranked lender in California - 1,139 contributions

William Acres addressed the issue of how much money you need to put down very well. If you wish to purchase an additional property while putting down only 10% I suggest you look into buying a 2nd home or vacation property. There are strict rulesregarding identifying a legitimate vacation property purchase for which it would be well worth your while to consult with an experienced, knowledgeable mortgage broker or banker who is licensed to do mortgage loans in Missouri.

Nov 9th 2015
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