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Old 04-10-2009, 11:13 AM
 
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Generally how much is required for a down payment on a rental property. I already own a home with a mortage. I've heard it can be in excess of 20 percent. This is a small property that is inexpensive not a giant complex.
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Old 04-10-2009, 01:58 PM
 
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Due to the high rate of walk-aways and foreclosures on investment properties, lenders have really tightened their requirements. In today's market, you will probably need at least 20% down, but some lenders are requiring 25-30% down. Shop it around though- you never know what kind of offers might be available until you look.
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Old 04-10-2009, 02:15 PM
 
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Probably 25% down with a positive cash flow history and preferably leases in place. You'll also need some cash reserves.
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Old 04-11-2009, 10:35 AM
 
Location: San Jose (Willow Glen)
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Quote:
Originally Posted by ToriaT View Post
Generally how much is required for a down payment on a rental property. I already own a home with a mortage. I've heard it can be in excess of 20 percent. This is a small property that is inexpensive not a giant complex.
Technically, you can do 20%, but the fees are really expensive. 25% knocks off 1.25% in fees, so it generally makes sense to put that extra 5% down.
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