patrick.net

Got an interesting e-mail recently from a realtor which surprised me. I'm going to check tomorrow with some contacts, but thought I would ask around.

A realtor told me that you need 25% down for a SFH/Condominium that you don't reside in. But if you reside in it, then it's a little less. Little less? I know people who just got an FHA @ 3.5%-10% for homes they have lived in. But still interested if this is a current trend to see that banks/brokers want 25% for SFH/Condos?

He also said for a getting 2-4 unit rentals you would need 25-30% down. To me that sounds like a business loan for 4 plexes and up that I used to hear about. But I didn't think that was required for a duplex, unless banks require that now. Anyone get any different data on the street?

#housing