Rental prop/How much money down?

[dpb894]

I would like to start buying property to rent out for the extra income. Because it would not be my primary residence, how much will lenders require as a down payment?

Thanks in advance!

[thedeallocator]

Financing an investment property purchase is a little bit different from owner-occupied home financing. You may be able to buy a owner-occupied home with no money down. This is a little bit difficult in the investment property financing area. Some lenders claim to you that they can provide 100% financing on rental properties, but when you look at the fees that come with it, it is better to put at least 5% down. You get a much better deal when you put some thing down.

[soulskier]

What about with a no doc/stated income loan? My guy tells me in this market, 30% down needed!