Exactly why are mortgage rates higher to possess 2nd home and you may investment characteristics?
The minimum advance payment for a single-tool, single-loved ones domestic, townhome, or condo money spent was 15% of your purchase price. For 2-to-4-device services, the fresh new deposit increased to twenty five%.
- 15% downpayment is $75,000
- 25% downpayment is $125,000
Investment property-Lowest down-payment
You should use a traditional mortgage to find a residential property.
