- Joined
- Feb 9, 2009
- Messages
- 83
Sorry in advance for the newbie question.
My wife and I had our conditional offer accepted on a triplex that is zoned mixed-use. The seller is willing to do a VTB for 15%, and we`ll put down the remaining 10% needed for the down payment.
Will be have to buy mortgage insurance? (I know that insurance isn`t required for residential property at LTV < 80%, but am not sure about mixed-use or commercial.)
Thanks!
My wife and I had our conditional offer accepted on a triplex that is zoned mixed-use. The seller is willing to do a VTB for 15%, and we`ll put down the remaining 10% needed for the down payment.
Will be have to buy mortgage insurance? (I know that insurance isn`t required for residential property at LTV < 80%, but am not sure about mixed-use or commercial.)
Thanks!