80% LTV on 4-unit investment properties
Hi,I'm currently in the process of completing a 1031 exchange on an investment property (accepted offer on old property) and will be looking to get into a new property or two with my equity from the old one. Are there any lenders out there able to do 80% LTV on 4-unit properties or am I stuck with a 75% LTV, which everyone seems to be offering? The new property will be located in Colorado.Any help would be greatly appreciated. Kind regards,Eric by vandem_677_178 from Denver, Colorado. Jun 17th 2013
80% is possible at MAC5 with the right credit score Debt to income and Reserves. The rate is not pretty. Joe is correct the industry standard is 75% and when you go over this number the majority of lenders go away if your ok with the rate hit of about 1% from a 4% to a 5% I can get it done at 80%. Jacob 720.210.7898 Call or text. Jacob@jacobdenver.com
Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions
75% is the Fannie and Freddie limit on investment. You will have to find a lender that will NOT sell the loan to Fannie or Freddie to go to 80%. But that will be VERY hard to find since most banks mirror their guidelines to Fannie and Freddie and then impose their own overlays.
Jacob Haddan (JacobColeHaddan)
#68 ranked lender in Colorado - 36 contributions
80% is possible at MAC5 with the right credit score Debt to income and Reserves. The rate is not pretty. Joe is correct the industry standard is 75% and when you go over this number the majority of lenders go away if your ok with the rate hit of about 1% from a 4% to a 5% I can get it done at 80%. Jacob 720.210.7898 Call or text. Jacob@jacobdenver.com
James Mazzola (Mazzola)
#109 ranked lender in New Jersey - 314 contributions
Commercial Loan and might require Commercial Guidelines
Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions
Very hard to find but it is out there. Likely to pay a much higher interest rate for it.
Dave Metsker (DaveMetsker)
#36 ranked lender in Oregon - 2,318 contributions
Only at a higher interest rate.
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Fannie/Freddie guidelines say 75% max on 2-4 units if the rate is fixed, 65% if rate is an ARM.. if your using a non-Freddie/Fannie, or portfolio/commercial type program, then it's possible, but would be higher rate and more expensive fees.. .. 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. 480-287-5714 WilliamAcres.com
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Fannie/Freddie guidelines say 75% max on 2-4 units if the rate is fixed, 65% if rate is an ARM.. if your using a non-Freddie/Fannie, or portfolio/commercial type program, then it's possible, but would be higher rate and more expensive fees.. .. 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. 480-287-5714 WilliamAcres.com
Shaun Weeks (sweeks)
#897 ranked lender in California - 106 contributions
Brokers contact me so that you can fill out a brokers package and use my online pricing engine for easy qualification. sweeks@rsmwholesale.com or shaun@swwinvestments.com or call me at 949-610-3126. Let me help you and your customers complete their loans quickly and professionally.
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,852 contributions
Fannie Mae and Freddie Mac backed loans, the ones with the best rates, only allow 75%. You may be able to find 80% somewhere...
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