Hello,
I have an excellent credit and high income. I’m seeking 100% financing for a 2plex or 4plex in Austin, Tx. Could you let me know what are my options now days.
thanks!
If you are going to occupy the property then 100% is possible with some seller assistance. If you are looking at the property only as an investment then 100% conventional financing is not available. However if you are buying at 65-70% of LTV you could use an HML or a private money lender to purchase the property with no money down and then refinance into conventional financing. The is effectively 100% financing. Hope this helps.
If investment property then you may also be able to find local banks in Austin that can work with you. In addition to high credit/income, high liquid assets helps as well. They may have a loan similar to what Chris mentioned with hard money but it would have better terms.
Recommend contacting a mortgage professional that works with investment loans such as these.