payday loans in corpus christi tx

Why are home loan cost highest getting 2nd belongings and you can financial support characteristics?

Why are home loan cost highest getting 2nd belongings and you can financial support characteristics?

Minimal down-payment to have a-one-unit, single-members of the family house, townhome, or condominium investment property is actually fifteen% of your price. For 2-to-4-tool qualities, the fresh new down payment increased to 25%.

  • 15% down-payment was $75,000
  • 25% down payment is actually $125,000

Money spent-Lowest down-payment

payday loans in corpus christi tx

You should use a traditional financing to find a residential property. Loan providers want a good 15% down payment to possess a 1-equipment money spent and you can twenty five% to own a 2-to-4-equipment.