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Updated over 5 years ago on . Most recent reply

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15
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3
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Mark Dolan
3
Votes |
15
Posts

Paying a larger % downpayment up front

Mark Dolan
Posted

Hi guys, I am new to the site and I am exploring the possibilities of investing in a rental property over the coming year. My biggest concern however is that I may struggle to get approved of a mortgage based on my low income reflected over the past few years. I am wondering if lenders allow you to pay a larger down payment to minimize the amount that you would need to borrow. I figure if people can buy houses with cash they perhaps they allow for something like this. Sorry if this is a silly question, I am still totally new to this and trying to figure out the basics. 

Thanks!!

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