Posted on: 01st Jan, 2014 01:35 am
Hello there... I need help. How will I be able to buy a house for rent?
Hi Radcliff,
I guess you want to buy a property for investment purpose. In such a situation, you will have to take help of a local real estate broker in this regard.
Thanks,
Jerry
I guess you want to buy a property for investment purpose. In such a situation, you will have to take help of a local real estate broker in this regard.
Thanks,
Jerry
Hi Radcliff!
Welcome to the forums!
I agree with what Jerry has said. It will be better if you could get in touch with the local brokers and take their help in buying an investment property.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
I agree with what Jerry has said. It will be better if you could get in touch with the local brokers and take their help in buying an investment property.
Feel free to ask if you've further queries.
Sussane
If you buy a single family investor property, you will need a minimum down payment of 15%.
If you buy 2 to 4 family investor property, you will need a minimum down payment of 25%.
If you buy a 2 to 4 family property and live in one of the units, then it is owner occupied purchase. The minimum down payment is then 15% for two units and is still 25% for 3 and 4 units. If your income is within limits for My Community Mortgage, then the minimum down payment for 2 to 4 units is 5%.
If you buy 2 to 4 family investor property, you will need a minimum down payment of 25%.
If you buy a 2 to 4 family property and live in one of the units, then it is owner occupied purchase. The minimum down payment is then 15% for two units and is still 25% for 3 and 4 units. If your income is within limits for My Community Mortgage, then the minimum down payment for 2 to 4 units is 5%.
