Financing in Tampa>Question Details

funnyguy84, Other/Just Looking in New York, NY

Can I buy a two unit home in Tampa Florida with 5 percent down if I live in New York as a vacation home ?

Asked by funnyguy84, New York, NY Mon Apr 29, 2013

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I would suggest placing 25% down if this is an investment property (2 unit would most likely be considered). If you were to find a one unit secondary home, 10% down (rates with great credit, around 3.625% today)

Warm Regards,

Josh Marks
Direct: 773.303.0033
Jmarks@wintrustmortgage.com
JoshMarksMortgage.com
0 votes Thank Flag Link Mon Apr 29, 2013
We fund second home purchases with a minimum 10%, however, if you are buying a duplex it would be difficult to explain this purchase a second home and not an investment purchase. Our investment loans are a min. 15% however I recommend 20% to avoid MI if possible.
0 votes Thank Flag Link Mon Apr 29, 2013
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