20% down required on investment properties?
Scott P. Rogers
I have now heard from several lenders that they cannot lend more than 80% on investment properties. The main issue seems to be that mortgage insurance companies are not willing to issue policies on investment properties any longer. (Most loans with less than a 20% down payment require mortgage insurance.)
Let me know if you have heard of any lenders who will still loan more than 80% on investment property...
