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?

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Robin Silver…, Mortgage Broker Or Lender, Garden City, NY
Tue Aug 24, 2010
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.
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