Im buying an occupied duplex as an investment property.
68k purchase price
17k down payment. (25% down) + whatever misc. fees I will pay cash for.
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51k mortgage, im looking for 30yr fixed.
I understand most mortgage companies wont do a mortgage under 50k which is why im putting 17k down, im wanting a 30yr fixed rate mortgage product. Not interested in shorter term loans as my purpose is to maintain a high cash on cash return, not principle pay down, therefore utilizing other peoples money (bank's). I wont be living in either unit, and as mentioned they are both currently occupied.
Any recommendations? seems like the online options out there are endless and I dont want to keep having multiple companies pull my credit thereby causing a slightly negative effect.
thanks in advance, much appreciated!