2007-11-05 04:22:27 · 4 answers · asked by renan h 2 in Business & Finance ➔ Renting & Real Estate
You will find downpayment minimums anywhere from ten percent to twenty five percent, plus a very good credit score and a decent positive net worth.
Lenders consider 'the roof over someone ELSE'S head" to be far riskier than the do the roof over your own head.
2007-11-05 04:29:05 · answer #1 · answered by acermill 7 · 1⤊ 0⤋
since they are considered residential rather than commercial properties, it will all depend on your personal credit and your ability to carry the debt. Since they are going to be investment properties, a good rule of thumb is going to be 10 percent in most cases.
2007-11-05 12:25:48 · answer #2 · answered by Rafael P 4 · 0⤊ 0⤋
Renan,
thanks for the giggles.
location x 3 and a thousand other variables = down payment.
2007-11-05 15:52:26 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Same as any other mortgage you've applied for taking into account appraisal and selling and closing costs.
2007-11-05 12:26:53 · answer #4 · answered by wizjp 7 · 0⤊ 0⤋