Mortgage for investment property

Started by basicinformation

over 10 years ago

Posts: 82

Member since: Oct 2008

Discussion about

Hello, I want to buy a condo in Manhattan as an investment property. Since I have rental income from a mortgage-free property abroad (2000$), I want to put down as little a downpayment as possible. The price of the property is below 500k$. I was hoping for no more than 20% down (so a mortgage of max 400k, 30y fixed), is that realistic?

Response by streetsmart

over 10 years ago

Posts: 883

Member since: Apr 2009

Almost realistic. Put down another ten percent.
Ellen Silverman,,mortgage broker
esfundingco@ aol.com
NMLS # 60631

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Response by cc2015

over 10 years ago

Posts: 43

Member since: Jan 2015

Hi Ellen,
Can you help with foreigners buying property in NYC? We are looking for banks to loan on a vacation property. Currently we have worked with TD, but we would like to find other banks banks that will lend to foreigners.
Thanks!

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Response by streetsmart

over 10 years ago

Posts: 883

Member since: Apr 2009

cc, feel free to contact me.
Ellen Silverman
E. S. Funding Co.
Tel:212-786-9682

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Response by Admin2009

about 10 years ago

Posts: 380

Member since: Mar 2014

usually 30%

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Response by JJ2

about 10 years ago

Posts: 114

Member since: May 2014

Can't you find a lender who'll lend at 25% or less ?

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Response by sohoman

about 10 years ago

Posts: 76

Member since: Mar 2013

CC - what country are you from? Is best to match a foreign bank in NY to that country eg TD for canadians.

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Response by yanjianfan_1661325

about 10 years ago

Posts: 3

Member since: Apr 2015

Chase can do 20% downpayment for US investors, not sure about foreign investors.

Mortgage for investment property

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