Minimum Down Payment for Out-of-State Investment?

[Joe Vastola]

Hello BP!

I live in New York and due to high real estate prices am interested in purchasing either a SFH or a small multi-family home out of state. I have spoken to a few different lenders and have gotten varied information on how much I would need to come up with for a down payment. I have been told as little as 15% and as high as 30%. I have excellent credit, a good job, no debt, roughly 60k in savings and will be looking for a loan between 100-150k. What is the minimum down payment that I should expect to pay?