Looking for 80% funding for a triplex in Houston

Good afternoon real estate finance. My name is Evan Thomas. I have an investor that is interested in buying a 3 unit property that is in Houston, Tx. The property was gutted and completely rehabbed so it is now vacant but in good condition so it will be easy for him to rent out the units. New flooring, windows, repaired roof, 2 new garage doors, complete bathroom remodels in all 3 units with new appliances in the kitchens. Current owner had a financial emergency and needs to sell by end of March. Priced at $735,000. My investor can put down up to 20%. Normally I would have easy funding for this but since it is vacant I cannot do better than 70% LTV. Does anyone here have an 80% LTV purchase loan, even though the property does not need rehab? Not looking for a bridge loan. This is a buy and hold and borrower wants to be 7% or at least get close to it.

Anyone has a product for this right now?

Evan Thomas

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Permalink Reply by WKL David on May 10, 2023 at 5:38pm

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Permalink Reply by David Chen on May 10, 2023 at 5:44pm

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