All
Members
Companies
Blog
Forums
Podcast
Webinars
    User Log in  /  Sign up
  • Forums
    Newest Posts Trending Discussions Followed Forums Real Estate News & Current Events General Landlording & Rental Properties Buying & Selling Real Estate Deal Analysis See All
  • Education

    Read

    BiggerPockets Blog BPInsights: Expert Analysis Guides Glossary Reviews Member Blogs

    Watch

    Webinars Video Library Financial Independence Blueprint Intro to Real Estate: Rentals

    Listen

    BiggerPockets Real Estate Podcast BiggerPockets Money Podcast BiggerPockets Business Podcast Real Estate Rookie Podcast Daily Podcast (Audio Blog)

    Topics

    Business Operations Finance Finding Deals Property Management Property Types Strategy
  • Network

    Recommended Vendors

    Real Estate Agents Mortgage Lenders Hard Money Lenders Insurance Contractors Investment Companies Build Your Team

    Search

    Members Events Jobs
  • Tools

    Calculators

    Rental Property Fix and Flip BRRRR Rehab Estimator
    Wholesaling Mortgage Payment 70% Rule Airbnb

    Services

    BPInsights: Property Insights Tenant Screening Property Management Lease Agreement Packages

    New Feature

    BPInsights (beta)

    Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood.

    Analyze a property
  • Find Deals
    Real Estate Listings Find Foreclosures External Link Ads, Jobs, and Other
  • Bookstore

    Real Estate Books

    Profit Like The Pros Bidding to Buy See all books

    Featured Book

    BiggerPockets Wealth Magazine book cover
    BiggerPockets Wealth Magazine

    Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! Subscribe today and get the Oct/Nov issue delivered to your door!

    Get the Magazine
  • Pricing
Log In Sign up
User
Quick search links
Podcast Hard Money Lenders Books Washington
ForumsArrowPrivate Lending & Conventional Mortgage AdviceArrowDown paymentpayment options
  • Newest Posts
    • Newest Posts
    • Unanswered Discussions
  • Trending
    • Top Discussions
    • Trending Discussions
  • Browse Forums
Search Nova
Create post

Down paymentpayment options

2 Replies

  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
Rotate Log in or sign up to reply
user profile avatar
  • Posts 7
  • Votes 1

Jay Bickmore
Rental Property Investor from Salt Lake City, UT

posted 14 days ago

I am in the process of getting ready to close on a primary residence soon and have a question wanting to know what people think will be best.

I am moving out of state for a job and anticipate it will be very busy for a good 6-12 months. I would like to start building a rental portfolio there once things get settled a little bit. Maybe down the road this house could be a house hack. I sold my primary residence and have enough to do the 20% down if that is best.

Do people think it would be best to put 20% down and reduce the payment around 200-300/month and possibly open a Heloc for investing down the road or would it be best to put less say 10% down and save the money for a while when I am ready to look for a deal?

Hopefully that makes sense. Let me know if you have any questions or advice.

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Rentals and Team
  • Posts 1.3K
  • Votes 1.1K

Lien Vuong
Real Estate Agent from Boston, MA

replied 14 days ago

If you're looking to leverage and have a longer investment time horizon going 5% with PMI and saving the difference for a second property would be ideal because you have two assets rather than just the one. Alternatively if you're looking to retire in the next few years and want more security going 20% without PMI and increasing the debt payment would be the easiest method.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 7
  • Votes 1

Jay Bickmore
Rental Property Investor from Salt Lake City, UT

replied 14 days ago

@Lien Vuong

Thanks for the input. Time is on my side so that is a good way to look at it.

Rotate Log in or sign up to reply
  • 1
Related Resources Private Lending & Conventional Mortgage Advice
Should You Buy Mortgage Discount Points?
How I Find Private Money Lenders to 100% Fund My Deals (& How You Can, Too)
Mortgage Interest Deductions 101: What You Should Know
Best Deal Ever: Making a Good Deal Great by Negotiating Seller-Held Terms
4 Golden Rules of Real Estate Investing
Resources Read, see, and learn more!
Link Real Estate Investment Calculators
Link BiggerPockets Blog
Link Path to Purchase
Link Mortgage Loans
Link Find a Contractor
Link Real Estate Agents
Link Hard Money Lenders
Link Real Estate Listings

Top Contributors

Stephanie P.
Stephanie P.
Washington, DC Mortgage Lender/Broker
8.79
Score
Chris Mason
Chris Mason
Oakland, CA
7.57
Score
Jeff S.
Jeff S.
Los Angeles, CA
5.59
Score
Wenda Wang
Wenda Wang
Charlotte, NC
4.49
Score
Charles Carillo
Charles Carillo
North Palm Beach, FL
4.22
Score

Private Lending & Conventional Mortgage Advice Trending Discussions

  • Meet up?! North Carolina
    4 Replies
  • SoFi Personal Loans for Rehab
    2 Replies
  • How to get Fix and Flip mortgage on a LLC ?
    3 Replies
  • Cash out refinancehow soon can you do a cash out refi? Any info??
    2 Replies
  • DTI Issue. How to convince a bank to do a loan?
    2 Replies
Log in Sign up

Log in

Forgot password?

If you signed up for BiggerPockets via Facebook, you can log in with just one click!

Log in with Facebook

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Let's get started

We just need a few details to get you set up and ready to go!

Use your real name

Use at least 8 characters. Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Why create an account?

Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing.

Connect with 1,000,000+ real estate investors!

Find local real estate meetups and events in your area.

Start analyzing real estate properties, we do the math for you.

It's free!

Explore

  • Membership
  • Community
  • Education
  • Marketplace
  • Tools
  • FilePlace
  • REI Resources
  • Perks
  • Glossary
  • Reviews
  • iOS App
  • Android App

Company

  • About Us
  • Press
  • Advertising
  • Careers
  • Stats
  • Contact Us

Important

  • Editorial Guidelines
  • Terms of Use
  • Rules
  • Privacy
  • FAQ

Social

  • Facebook
  • Twitter
  • YouTube
  • Instagram
© 2004-2021 BiggerPockets, LLC. All Rights Reserved.