Updated over 4 years ago on . Most recent reply
Down payment for investment property
I am about to purchase my first rental property. After getting everything I needed and already 3/4 of the way through this process, my lender is now telling me that I need to put down 25% as he says that’s the guidelines. I never heard of this. I was under the impression 20% down is the normal rate. Is there a reason why he’s trying to get 25%? At this point I’m contemplating walking and finding a new lender.