Minimum Down Payment
- Thread starter Bindy25
- Start date
- Joined
- Aug 31, 2007
- Messages
- 526
If you mean the minimum down payment for a single family rental property, then the answer is yes, you need 20 percent down.
The only way around it would be to use the property as an owner-occupied/rental property. in other words, you're living in one of the units and renting the other(s)
The only way around it would be to use the property as an owner-occupied/rental property. in other words, you're living in one of the units and renting the other(s)
- Joined
- Aug 30, 2007
- Messages
- 13,879
Yes in principle. There are three ways to use less than 20% down cash: have an owner occupied property where you sub-lease a portion such as the basement, or get a VTB mortgage by the seller, or have a JV partner who puts up all or some of the down payment for a % of equity/profit sharing.