Lenders allowing 10-15% down payment for strong cash flow investment property in Evanston?

Vikas Wadhwa
Vikas Wadhwa
Broker
Chicago, IL

Does anyone know of any lenders who will finance an investment property in Evanston with 10-15% down? These properties are 2-4 unit properties which are always rented to Northwestern Students - very stable cash flow, 100% occupied all the time. In fact, most people sign leases for these 6 months - 1 year in advance.

Thu Dec 18 2008, 08:03 - Financing in Evanston - 1 answer
Helpful
 (0)  
Email Alerts
Send to a friend
Save
Report  
Answers (1)
Luke Allison
Luke Allison
Mortgage Broker
or Lender
Asheville, NC
FIRST ANSWER

None that I know of. Simply because there is no mortgage insurance for investment properties right now. You will have to put 20% down. Sorry.

Luke Allison
Flagstar Bank
828-777-8828
Luke.Allison@flagstar.com

Thu Dec 18 2008, 08:34
Helpful
 (0)
Link to this answer
  Report

Didn’t find what you were looking for? Ask a question!

More Q&A about Financing in Evanston

View all »
Emilie, Home Buyer in Evanston, IL
How much time you need to wait to be approved for Downpayment assist and/or First Time Home Buyer in Evanston?
Answered Sun Jun 28 2009, 01:44 by Emilie in Evanston
Read the answer
View all Financing questions and answers in Evanston »
Search Advice
e.g., "foreclosure", "short sale", "mortgage"
e.g., "San Francisco, CA", "New York, NY"
SEARCH

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 243
Map these properties
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback