Financing a Second Home or Rental: What Changes
The same $420,000 house needs 5% down as a primary residence, 10% as a second home and 25% as a rental, and at 25% down with $2,650 of rent, the property still loses $109 a month.
- +1.25%
- Rate premium on an investment property
- 75%
- Share of market rent lenders count
- −$109
- Monthly cash flow at 35% down
Alex Hales