Asked by Scott, Abilene, TX • Mon May 5, 2008
I am first time home buyer wanting to buy a multi-family investment property (specifically a quad or a tri). Given the current situation in the lending market (ie: some lenders got busted for lending to anybody with a pulse) I would like to know the best places for finding an investment property mortgage that is structured like a personal residence mortgage. Most lenders I have researched require a minimum 20% down. I am looking to use leverage and would like to find someting requiring only 10% down max and a competitive interest rate.
I have ZERO personal debt, good credit (TU 782; Exp 749; Efax 698), and I currently earn over 100K/year (contractor working overseas).
Since I am working overseas and do not know where I want to "settle down" upon return to the United States, I would like to avoid the owner-occupy scenario. I would consider the owner occupy scenario if the property was in San Antonio or Austin.
Any help/advice (or even a smack in the head)?
Popular Categories in Texas
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!