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What is the minimum down payment on Investment property?

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What is the minimum down payment on Investment property?

The loan officer i closed with on my first mortgage told me it would be 75%. The home is a short sale and would be for significantly less than its worth and has tenants. But at 75% down payment it would wipe all of my savings. Is it really 75% minimum down payment for an investment home now? I understand if it is since most foreclosures are on second mortgages.

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Senior Contributor

Re: What is the minimum down payment on Investment property?

75% is probably pretty close (it depends someowhat on your file though), but you will also need reserves for the mortgages you have more than likely.

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Super Contributor

Re: What is the minimum down payment on Investment property?

20% down on 1 unit

25% down on 2 - 4 unit

 

heard about 15% purchase only, but i dont know that it can get pmi. so, to be safe, i am saying 80% max ltv

Retired Lender
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