Menu

Home › Forums › Closed Forums › Buying and Selling RE › Investment property downpayment and interest rates

Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • January 7, 2018 at 7:30 PM #22490
    Escoguy
    Participant

    I recently called a bank I have three mortgages with to confirm what the downpayment would be on an additional investment property.

    They came back with 35%.

    Has anyone gotten a recent quote for what downpayment is required and what interest rates are current on investment properties?

    Normally target SFH.

    Thanks all

    January 8, 2018 at 2:43 PM #808944
    sdsurfer
    Participant

    I’d think you can go 25% down unless something changed VERY recently. I’ve worked with Michael Deery at Citiwide Financial quite a bit if you want to ask him for a 2nd opinion.

    January 12, 2018 at 1:01 AM #808973
    HLS
    Participant

    For conventional loans
    You can buy with 20% down but it’s MUCH better pricing to buy with 25% down. 1-4 unit properties

    There is NEVER one rate that applies to everyone for ANY loan program.
    It depends on credit score, down payment & loan amount AND whether you want a no cost loan OR to pay something and get a lower rate.
    Also, pricing changes a bit every trading day that the bond market is open.

    January 12, 2018 at 9:12 PM #808987
    Escoguy
    Participant

    yes, agree

    All my loans have been 25% to get the better pricing.

    Was just surprised by the 35% quote. It may just be that bank right now.

    I hadn’t read that 20-25% was no longer applicable but I haven’t bought a new property since 2014 and last refi was 2016.

    Any other comments appreciated.

    Thanks

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The forum ‘Buying and Selling RE’ is closed to new topics and replies.