I have a 5 family property that I am looking to buy in Salem, MA near SSC. This will be a non-owner occupied

Asked by Ryan Patricks, Ipswich, MA Fri Jun 13, 2008

and all 5 units are currently rented. CAn anyone suggest a lender who will offer a 10% down payment. Looking to get in with low out of pocket cost.

Thanks in advance everyone

Help the community by answering this question:

+ web reference
Web reference:


Irena, , Newton, MA
Sat Jul 5, 2008
just curious did you get in touch with GMAC? Did you find any other option with 10% down?
Another thing we are finding out is that you need to provide the closing atty. and title company.
You need to make sure that you do not get billed twice for those charges.
1 vote
Irena, , Newton, MA
Sat Jun 28, 2008
My clients are working with GMAC mortgage company and they are the only ones so far that offer 10% down for an investment property. However the closing costs are pretty high, but we will negotiate them They also have great credit and two other properties.
The persons name they are dealing with is Shannon Parks and you can try with her
Shannon.parks@gmacmdirect.com or 1800-876-4622 ext. 6511
Disclaimer: I do not work for them or get compensated by them in any way or form.
1 vote
Michael Giles, Agent, Beverly, MA
Fri Jun 13, 2008
I do have a lender that handles commercial loans that can do 10%down if you meet the credit guidelines contact me at 978-882-4659.
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more