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Updated about 7 years ago,

User Stats

243
Posts
54
Votes
David Rutledge
  • Irvine, CA
54
Votes |
243
Posts

Second home or investment mortgage... Please help

David Rutledge
  • Irvine, CA
Posted

Good afternoon,

I am looking at getting my first investment property out of state this summer. I do not own a property yet but the company I am getting my loan through said that I should use a second mortgage loan and put 10% instead of the 20% I would need for an investment loan. They said to do this even if I plan to rent it out.

Can anyone give me advice on whether this is actually a good idea or should I just go ahead and put the 20% and get a regular investment loan?

I am new to this and very confused.

Thanks for any help or guidance you may be able to provide.

David

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