20% but 25% is better pricing. Jay and I can do two loan packages with 75/10 and 15 down but the rate on the second lien for me anyway is a little steep.
Not completely related but I didn't feel like we needed a new thread.
I own my home and want to purchase a rental. I know the financing options thanks to the awesome posters on here. Is the financing different if I want to rent my current house and purchase a second home to live in? Or is a second mortgage a second mortgage regardless of who is living there?
If you rent your current primary and move to another you qualify for primary residence terms. If you buy a house with the intent to rent it then uou qualify for investment property terms.