Question on investment property with 20% down

[Dolores Waldron]

Hello,

We would like to purchase a 2 family property in the Medford area but apparently need 25% down for an investment property as we would not plan on living in it and hoping to rent both units out.

Are there any ways around putting 25% down for an investment property here in MA?

If we did decide to buy as owner occupied and not investment property and say put 20% down - how long would we have to live in it before we could move out and rent that unit?

Thank so much for any advice.

Dolores

[Brent Coombs]

@Dolores Waldron, if for example you have $20k as deposit on a property asking $100k, offer $80k instead! Voila! 25% down!

Otherwise, try saving up the extra 5%! (I know, that didn't help much). All the best...