Hi! First post here! I am about to buy my first investment property duplex. I have found a couple banks that allow 15% or 20% down instead of 25%, but only on the condition of a 5 year ARM instead of 30 yr fixed. How hard is it to refinance an investment property to a 30 year fixed down the line?
Not hard . But remember you'll be paying the closing costs again- Most times even if you use the same bank . There might be a little discount in 5 years with the same bank if you sign up for another ARM with them.