Posted by youngsterz (UT) on March 15, 2002 at 24:54:55:
It should be easy to get 80% LTV financing on these properties, and pay no more than 7.5% on 30 yr amortizations. You can even go 90% on 1-2 units for the same rates, but then you would be facing PMI, and that should be avoided.
Check other lenders. You can do better than 8.5%. You’ll still face a point or two in non-owner occupied fees, but to pull out a chunk of money, it’s worth it.