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Updated almost 2 years ago, 12/29/2022

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Is it true that down payment for a second house purchase is 10%?

Posted

We are looking for an STR in the Tampa area. We are from DC and when looking at cabins for a STR here in VA, our real estate agent told us since we already have 1 mortgage, the second house purchase would have to be a 10% down instead of 3%. Everyone I asked about this said this is not true. Please advise.

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