2-4 units it 20% down
Single Family investment its 10% down
Keep in mind Homepath interest rates are driven by credit score and downpayment.
**** Also all you investors out there looking to buy Homepath properties Homepath Mortgage now allows up to 10 financed investment properties.**** This applies to Homepath listed properties only. Change went into effect on Feb 1, 2011
As for suggestions, I would look more towards the standard Conventional loan but instead of putting 20% down put 25%. This makes the rate much more aggressive. The Fannie Mae's guidelines read that 20% requires a 3.5% hit to the pricing and 25% down is only 1.75%. This means that you will see a rate .5 to .75% lower with 25% down.
The link below will take you to a site to get a free Book on Real Estate Investing that answers a lot of these questions and more. You can also search homes at the site.
Paulette Parsons, DRE # 01363798
Prudential California Realty
Ross is correct. 20% for an investment home.
Let me know if you would like more information on the market.
Shannon Coe Realtor #01489731
WR Properties Brentwood CA
Here's your answer:
* 1 Unit -20% down
* 2 - 4 Units - 25% down
* HomePath Purchase - 10% & no mortgage insurance.
Please feel free to contact me if you have any questions.
All the best,
Roswell Moore, CMPS
Certified Mortgage Planner
We are a Direct Lender, Mortgage Bank where we originate, process, underwrite and fund FHA, VA, USDA, Jumbo, Conventional, loans to Canadians & other Foreign Nationals, on time. NMLS ID 263779 | AZ BK 0903725