What is the minimum down paymentrequired for rental property to get good interest rates?
Posted by admin | Posted in Home | Posted on 05-01-2009
Tags: Minimum Down Payment, Rent, Rental Property
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Russell R asked:
What is the minimum down payment rental property? Also if I will purchase rental property such as an aprtment building and live in one of the units and rent out others will that be considered rental property. What is the best way to go about financing this with arround 15-20% downpayment?
Content by Fun Joomla
What is the minimum down payment rental property? Also if I will purchase rental property such as an aprtment building and live in one of the units and rent out others will that be considered rental property. What is the best way to go about financing this with arround 15-20% downpayment?
Content by Fun Joomla
Content by Home Decor Zine
20 % but ask the mortgage broker where they will give a interest rate break. also shop the loan around to at least three lenders
Content by Fun Joomla
To get prime rates on investment property generally requires 30% – 40% down. You’ll generally need at least 20% down to get funding at all from most traditional sources.
Building a long-term relationship with a small local bank can often help immensely. Once you’ve built a reputation as an astute, low-risk investor you may well get access to better funding options.
Living in one unit will only get you the lower residential rates if the property is 4 units or less.
Content by Alvisa Rizky
to get good interest rate for investment property , you have to put 20-30% down payment, but you can get loan with 5% down. talk to mortgage broker and let him explain you the options you have. if you going to live in this property, this will also help you greatly.