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Updated about 7 years ago on . Most recent reply

More money down on a deal?
Hey fellow pocketers, so I’m officially pre-approved by two lenders which I will most likely go with USAA since not only is the rate cheaper but it lowers my car insurance but that’s another story. I noticed both lenders want 25% and I’m confused as to why. Is it because I just bought a property 8 months ago? If so will I have a harder time for property 3? Will they expect more down?
Most Popular Reply

It would be best to ask your lender versus the uninvolved BP community.
But, since you asked, 25% is a common requirement for banks' best rate for investor properties. You may be able to get 20% if you pay a higher rate, maybe lower with an even higher rate.