So close to obtaining a perfect property

[Louis Louisius]

Hi so I’m looking to purchase my first long term property. a townhouse in Wesley chapel fl.

Property 300k

Down payment 20%= 60k

Liquid cash 10%= 30k

801 credit score

Low debt to income ratio and and combined salary of 200k w wife

can a bank make an exception on this 20% requirement if I’m qualified in credit score, debt to income, and capable of paying for property if ever vacant?

[Nick Velez]

@Louis Louisius

The second home route would be the only way to stay ay 10% down.  As you mentioned, you would need to occupy this property at least 14 days out of the year. Wesley chapel is not too far from the water so perhaps you can make it a little vacation!

Either way, you need to be working with an investor friendly agent if you are purchasing out of state. I would recommend you chat with @Josh Green. He has helped several out of state investors purchase properties in the around Tampa area.