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Updated over 4 years ago,
Conventional Loan Down Payment
Hello! Newbie here just trying to get some advice on my first conventional loan to purchase and rehab a home. Currently living in California, looking to purchase a property in Pennsylvania as an investment. The lender I have worked with before sent me a pre approval letter but the down payment is 25%. Seems like a lot, I have excellent credit, low debt and good amount of savings. I can afford the down payment and still have plenty to do the rehab, I simply would like to know if this percentage rate is excessive or reasonable due to the property being an investment and not primary residence. Thanks in advance!