Do 80/20 Loans Exist for Multifamily Investment Property?

Just wondering if I can get 100% Financing for a Multifamily Investment Property in Western Massachusetts. I have checked several banks and even though my credit rating is in the high 700s there doesn't seem to be anything other than 20% down. I don't want to use up all the equity in my home. Advice would be very much appreciated.
Scott

The rules that apply to residential lending are not the same rules that apply in investment lending. This is the surprise that a lot of people get when they start trying to buy investment properties.

Truthfully, it will be very difficult to find and arrange and 80/20 loan for and investment property. I'm not saying it is impossible, but very verry very difficult. I am assuming that the Multi-Family is a duplex, triplex or four-plex. On larger properties of 4+ units, they usually want 30% down.

Also, if you do find a primary lender that will lend you the 80% they may nix letting you arrange financing for the remaining 20%. All financing arrangements must be disclosed during the closing or the underwriters may kill the deal if you try and get around this.

There may be creative financing techniques that might help. Get the seller to pay all closing costs, ask for a credit for repairs that need to be made. These could save you 5-6%. Also some lenders will allow a small seller carryback loan of 5-10%.

Good Luck