Rental prop/How much money down?

**dpb894** · 01-25-2008, 09:55 AM

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** · 01-28-2008, 05:31 AM

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.