Taking the next step - Second Home/Mortgage Financing

[Alexander Straffin]

Hi All,

I have a single mortgage on a townhouse which is my primary residence.

My wife and I are ready to purchase a Single Family investment property in Massachusetts but our bank is telling us we need to have 25-30% down! We would like to purchase the home as a rental property, so moving in to get FHA/Primary Residence isn't going to work.

Are there any other tricks to skirting the +25% down payment without taking on partners?

Are there any banks that you know of that will give a good mortgage on a SFR rental if you can prove that it will cash flow?

Thanks!

- Alex