All Forum Posts by: Steven Paleocostas

Thanks for the information Darren, I guess I just start calling lenders for pre approval.

Hi everyone,

I have never made an investment purchase. I do have a primary sfr, which I leveraged for the Heloc.

 (Heloc / 30 yr fixed)

Buy an investment property SFR for ($250,000+$10,000 closing cost (25% down heloc @5.59%variable interest only loan)= $65,000=$364 per month plus

 the $195,000 remainder with a 30yr conventional @4.5%=$876 per month + Taxes $800 + HOI $120= $2,160 +7% net profit= $2300  total cost

Can this be done?

Will most banks require more than 25% for an investment purchase?

Is this a smart move or not?