Updated about 7 years ago on . Most recent reply
1st- time investor - Down Payment Options
Looking to purchase my first piece of investment property. I'm not looking forward to paying 25% down. Are there any options to me putting less money down so I can save it for incidentals?
Most Popular Reply
@Nekole Shelton
House hack a multifamily unit. That’s a good way to get a low DP and get started.
If you’re buying a house as an investment property then 20-25% will be common. There might be some private lender who lend on a 10% acquisition, 10% rehab. But then the fees are higher.
Don’t forget seller concessions, it can cover some of the down payment and closing costs. Ask your agent what % of seller concessions you’re allowed to ask up to.
Happy Hunting!