15% down Jumbo Second Home with 1031

[Ivan Ng]

BP Friends! Hope all is well.
I know this is a loaded question: Do you know if anyone does 15% down jumbo second home and okay with 1031 exchange?

[Ned Carey]

@Ivan Ng sadly sometimes when dealing with the banks, even when you are following the rules, they have some silly requirements to kill a deal.   It is just a reality we have to deal with. 

If your ultimate goal is getting the lowest rate keep in mind that when interest rates are this low 1/4 or even 1/2% more does not make that much difference in the payment. When rates get higher a small difference in rate makes a big difference in payment.  Good luck.