All of the information you have gotten is good information. Since you already own a home you would be financing a second home. You can own 2 homes and not have it considered an investment property. To avoid PMI you always want to put down 20%. If you put down anything less than 20% on a home you will be subject to PMI which is an insurance policy the mortgage lender takes out in case you default on the mortgage. So to keep your payments lower and pay for what you own (principal, interest, taxes and HOI) you want to put down as much as possible. With rates as low as they have been these last several weeks, one wold be very tempted to keep as much as possible in the bank. My advise is to speak with a qualified mortgage person and an accountant if you have one. They are the experts. I have a mortgage person for you and a real estate attorney who also has a masters in taxation (the best of both worlds) if you need some direction.
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He said you could do it with as little at 10 to 20 perecent down. Feel free to give him a call. Brad Armstrong at Weichert Financial Services (973) 222-0979. If you would like to see any homes or have any questions feel free to give me a call at (973) 903-2862 or email at email@example.com