What is the minimum down paymentrequired for rental property to get good interest rates?
What is the minimum down payment leasing property? Also if I will hold leasing property such as an aprtment building and live in one of the units and rent out others will that be considered leasing property. What is the best way to go about financing this with arround 15-20% downpayment?
20 % but question the mortgage broker where they will give a appeal rate break. also shop the loan around to at least three lenders
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 link 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.
to get excellent appeal rate for investment property , you have to place 20-30% down payment, but you can get loan with 5% down. talk to mortgage broker and let him clarify you the options you have. if you vacant to live in this property, this will also help you greatly.