Mortgage rates on rental properties

2 banks quoted me 4.25 on 30 year loans this a.m.

Does anyone know the down payment requirement on a rental property?

That 4.25 rate was based on 25% down. 20% down was 4.375

Ive got about 200k in equity in my home. If I wanted to buy a rental propert for $125k, would the bank require me to put any cash down or would the equity in the house be sufficient?

i closed at 4.1 with no money down in july

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DieSmilen

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WFHM. I should have mentioned it was a re-fi-my bad. I asked the guy what the down paymnet would be if i wanted another one and he said 20%. I'm thinking of just turning my current home into a rental in about 2 years instead of messing with the down payment.