Percent Down Payment

[Stephen Meche]

I searched the forums and was not able to find what i was looking for so i figured i would ask the community.  I made an offer on my first reaI estate property and was always under the assumption that putting 20% down was the lowest i could do on a conventional load.  Well today, i found out that one of the companies approved me for 15% down.  Which down payment amount would you pick and why?  I think there are pros and cons to each.

[Josh Mitchell]

@Stephen Meche if your numbers work with 15% down, go this route so you can keep more funds and do more deals! This option will come with PMI (private mortgage insurance) which has no benefit to you as the owner, but if you can include that cost into your figures and make it work, then let the tenants pay for it!