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Updated almost 3 years ago,
Lender down payment requirements
Is 25% down the new standard on rental property? Im looking to buy a duplex in Ohio since prices here are so high. Its a duplex so I can't call it a second home. Every lender I've talked to has the same 25% down requirement for investment property. It used to be 20%, if not lower. The high closing costs really impacts the cash on cash return. It could take a decade to get my $$ back out of the deal.
Is this what other investors are experiencing? How would you proceed? Is 25% down the standard everywhere?