Home Buying in Rio Vista>Question Details

Irret, Home Buyer in Rio Vista, CA

I've been told if you buy a second home that's more than 25 miles from your primary residence, that you can do so with only 3 1/2 percent

Asked by Irret, Rio Vista, CA Tue Aug 24, 2010

down. True?

Help the community by answering this question:

Answers

1
WHo told you this? Probably someone who has no idea what they are talking about. 3.5% down is for FHA, and you can't have a second FHA loan unless it is extenuating circumstances due to a relocation, and certainly has to be a lot more than 25 miles away.
0 votes Thank Flag Link Tue Aug 24, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer