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Updated over 3 years ago on . Most recent reply

Wei Jie Yang's profile image
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Wei Jie Yang
  • from New York City
  • Member since Nov 2, 2018
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Wei Jie Yang's profile image
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Wei Jie Yang
  • from New York City
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Wei Jie Yang
  • New York City
75
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Private Lending & Conventional Mortgage Advice

Does 15% down for investment property still exist?

Wei Jie Yang
  • New York City
Posted

Hi everyone,

Last time I bought a property was in 2019. Back then the minimum I needed to pay was 15%. My lender is telling me that's over and now the minimum is 20%. Is this a Freddie/Fannie rule or is this an overlay? Does anyone know?

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Shaun Weekes
  • Loan Officer / Processor / Life & Health Agent
  • from Rancho Cucamonga, CA
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Shaun Weekes's profile image
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Shaun Weekes
  • Loan Officer / Processor / Life & Health Agent
  • from Rancho Cucamonga, CA
  • Member since Jun 8, 2014
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Shaun Weekes
  • Loan Officer / Processor / Life & Health Agent
  • Rancho Cucamonga, CA
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Shaun Weekes
  • Loan Officer / Processor / Life & Health Agent
  • Rancho Cucamonga, CA
Replied
Originally posted by @Wei Jie Yang:

Hi everyone,

Last time I bought a property was in 2019. Back then the minimum I needed to pay was 15%. My lender is telling me that's over and now the minimum is 20%. Is this a Freddie/Fannie rule or is this an overlay? Does anyone know?

 Yes, Fannie will still do this on Single Families Residences.  Your lender has an overlay.

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